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Wix Tumbles After Cutting 20% Of Workforce, Warns Of Deeper Growth Slowdown
Wix Tumbles After Cutting 20% Of Workforce, Warns Of Deeper Growth Slowdown
Website builder Wix announced an "organizational realignment" on Monday that will cut roughly 20% of its workforce, as the company warned of a sharper-than-expected slowdown in its Partners business.
The restructuring is designed to streamline operations, discontinue lower-priority initiatives, and reallocate resources toward Wix's core growth areas.
"The organizational realignment to streamline operations and reallocate resources to support the Company's top strategic priorities. This includes the scaling down and/or discontinuation of certain activities, initiatives, products, and subsidiaries," Wix wrote...
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