Topic: severance packages
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Wix lays off 20% of staff in AI and currency restructuring
Wix is cutting about 1,000 jobs (20% of its workforce) due to a currency mismatch from the strengthening Israeli shekel, which makes its Israeli workforce significantly more expensive in dollar terms since Wix earns revenue in dollars but pays most staff in shekels. The layoffs are also driven by...
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Atlassian Cuts 1,600 Jobs and Replaces CTO in Major Shake-Up
Atlassian is laying off 1,600 employees (10% of its workforce) to strategically realign skills and invest in AI, despite recent strong cloud revenue growth and user metrics. The job cuts are concentrated in R&D and across North America, Australia, and India, costing up to $236 million and coincid...
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SK Telecom's new AI unit offers voluntary buyouts weeks after launch
SK Telecom is offering a voluntary retirement program for its newly formed AI division (AI CIC) to consolidate AI units and support employees facing role or location changes, not as forced layoffs. The AI CIC is responsible for developing the personal AI assistant "A.", managing AI data centers, ...
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