{"id":615036,"date":"2026-06-08T15:45:00","date_gmt":"2026-06-08T15:45:00","guid":{"rendered":"https:\/\/buglecall.org\/?p=615036"},"modified":"2026-06-08T15:45:00","modified_gmt":"2026-06-08T15:45:00","slug":"wix-tumbles-after-cutting-20-of-workforce-warns-of-deeper-growth-slowdown-2","status":"publish","type":"post","link":"https:\/\/buglecall.org\/?p=615036","title":{"rendered":"Wix Tumbles After Cutting 20% Of Workforce, Warns Of Deeper Growth Slowdown"},"content":{"rendered":"

Wix Tumbles After Cutting 20% Of Workforce, Warns Of Deeper Growth Slowdown <\/span><\/p>\n

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Website builder Wix announced an “organizational realignment<\/strong>” on Monday that will cut roughly 20% of its workforce, as the company warned of a sharper-than-expected slowdown in its Partners business.<\/p>\n

The restructuring is designed to streamline operations, discontinue lower-priority initiatives, and reallocate resources toward Wix’s core growth areas.<\/p>\n

“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 in a Form 6k filing earlier this morning.<\/p>\n

As of 1Q26, Wix had 5,277 employees, so a 20% cut would represent about 1,055 layoffs.<\/strong><\/p>\n

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Wix is a SaaS website builder that competes<\/strong> with platforms such as Shopify, Squarespace, GoDaddy, and WordPress-related services. There was no mention of whether AI-related efficiencies contributed to the white-collar layoffs.<\/strong><\/p>\n

The 6k filing noted that it expects 2026 free cash flow, excluding acquisition and restructuring costs, of about $420 million, roughly $20 million above its prior plan. This restructuring is a move to support profitability.<\/p>\n

“While Wix Harmony and Base44 continue to perform as we expected when we issued guidance as part of the first quarter 2026 earnings release, the Company expects an approximately $50 million reduction in bookings and an approximately $25 million reduction in revenue in FY 2026 as a result of our organizational realignment as well as a more pronounced slowdown, beyond our previous expectations, in the growth of our Partners business during the second half of May and early June,” the filing stated.<\/p>\n

The company lowered its 2026 bookings growth outlook<\/strong> to the low-teens range from mid-teens, while revenue growth is now expected in the low- to mid-teens range, also down from mid-teens.<\/p>\n

\"\"<\/a><\/p>\n

Cost savings from the labor restructuring are expected to offset the revenue hit. Wix sees about $70 million<\/strong> in incremental non-GAAP cost-of-revenue and operating-expense savings this year, with a full-year run-rate savings target of about $150 million<\/strong>, driven mainly by lower payroll and overhead.<\/p>\n

Wix expects $30 million to $35 million<\/strong> in pre-tax restructuring charges, mostly related to cash severance and benefits, with most charges booked in the second quarter and cash payments made later this year.<\/p>\n

Shares of Wix tumbled 10% in premarket trading. The stock is trading near 2017 lows.<\/p>\n

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Most Wall Street analysts are bullish on the stock. There are 12 “Buy” ratings, 8 “Neutral” ratings, and 1 “Sell.”<\/strong><\/p>\n

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The average 12-month price target for the stock is $84 per share.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nMon, 06\/08\/2026 – 11:45<\/span><\/p>","protected":false},"excerpt":{"rendered":"

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… Continue reading Wix Tumbles After Cutting 20% Of Workforce, Warns Of Deeper Growth Slowdown<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":615031,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[18,19,10,21,12,11,9],"tags":[],"class_list":["post-615036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cancel-culture","category-censorship","category-civil-liberties","category-election-integrity","category-equal-justice","category-free-speech","category-religious-freedom","entry"],"_links":{"self":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts\/615036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=615036"}],"version-history":[{"count":0,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts\/615036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/media\/615031"}],"wp:attachment":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=615036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=615036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=615036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}