Israeli Tech Firm Wix Plans Layoffs of 800–1,000 Employees Worldwide

Israeli tech company Wix announced plans to lay off 800 to 1,000 employees globally. The company reported a return to a quarterly loss, which it attributed to increased spending on artificial intelligence and 'vibe coding,' as well as a $1.7 billion stock buyback. The layoffs are part of a broader restructuring effort, according to the announcement.

Wix did not provide an exact number of layoffs but stated the range of 800–1,000 positions. The $1.7 billion buyback was authorized concurrently, representing a significant capital allocation decision.

The layoffs come amid a broader trend in the technology sector where companies are cutting headcount while investing heavily in AI capabilities. The company previously reported profitability but has shifted spending to compete in the generative AI landscape. The move affects employees in Israel and other global offices.