WIX.com

WIX

Market cap $2.35B

Wix (NASDAQ: WIX), a dog of a company, laid off 1,000 people and said the primary reason was “fast evolution of AI capabilities.

Recently, Zacks.com users have been paying close attention to Wix.com (WIX). This makes it worthwhile to examine what the stock has in store.

Israel-based Wix joins a growing list of companies announcing layoffs while citing “the fast evolution” of AI. (That list includes Meta, Cisco, Groupon, and Intuit, in just the last few weeks.

NEW YORK, May 29, 2026 (GLOBE NEWSWIRE) -- Leading securities law firm  Bleichmar Fonti & Auld LLP announces an investigation into Wix.com Ltd. (NASDAQ:WIX) for potential securities fraud after its significant stock drop.

NEW YORK, May 28, 2026 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP continues its investigation on behalf of Wix.com Ltd. (“Wix” or the “Company”) (NASDAQ:WIX) investors concerning the Company's and/or members of its senior management's possible violation of the federal securities laws and other unlawful business practices.

NEW YORK, May 28, 2026 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Wix.com Ltd. ("Wix" or the "Company") (NASDAQ: WIX).

Israel-based Wix is laying off roughly 20% of its workforce, CEO Avishai Abrahami announced in a post on X. Abrahami cited the evolution of AI and exchange rates as reasons for the decision.

SAN FRANCISCO, May 28, 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 market capitalization, after Wix announced its Q1 2026 financial results and a massive 46% year-over-year increase in operating expenses and questions over the company's ability to defend its core business.

Wix will lay off 20% of its workforce, citing AI and currency challenges. CEO Avishai Abrahami cited the need for Wix to become leaner and more efficient.

Israel's Wix.com , which ​helps small businesses ‌build and operate websites, is ​laying off ​20% of its workforce, ⁠or more ​than 1,000 workers, ​CEO Avishai Abrahami said on Thursday.