India, May 28 -- Website development platform Wix.com Ltd. (WIX) is cutting roughly 20% of its workforce as part of a broad restructuring aimed at adapting to the rapid rise of artificial intelligence and streamlining operations, CEO Avishai Abrahami said in a message to employees.
The Israel-based company, which had 5,277 employees at the end of the first quarter, is expected to eliminate about 1,000 jobs, marking the largest layoff round in its history.
"It also means we need to become a faster, leaner, and flatter organization. We are moving to a structure with fewer levels between any member of our leadership and the most junior person on the team. Fewer layers means faster decisions, clearer ownership, and less distance between the p...