Wix, the Israeli-based website building service, is reportedly embarking on a massive workforce reduction following poor performance and a decline in its stock price since the beginning of the year.

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SAN FRANCISCO, May 22, 2026 /PRNewswire/ -- Investors in Wix.com Ltd. (NASDAQ: WIX) saw the price of their shares tank $20.56 (-27%) on May 13, 2026, wiping out over $1.1 billion of the company's ...

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Wix CEO Avishai Abrahami has announced a major restructuring that includes a roughly 20% workforce reduction. In a memo sent to the entire team, Abrahami explained that the decision was driven by two ...