Cuts and Wix lays off 20% of staff — Sedo makes

Many talented people in the web presence industry are looking for work.

Two firms in the domain and web presence space have made layoffs.

First, Sedo recently made significant cuts to its staff. I’m told it could impact more than 50% of employees. The move comes as IONOS tries to sell the unit following Google shut down its AdSense for Domains program.

Second, website builder Wix (NASDAQ: WIX) disclosed it’s letting go of 20% of its staff. It blamed artificial intelligence and the rising value of the Israeli Shekel. The Shekel has been gaining on the U.S. dollar. That is challenging since the firm pays many of its employees in shekels and earns its revenue in dollars.

There could be more industry layoffs soon. Word is that Team Internet Group is close to completing the sale of its domain businesses. Assuming the sale is to a competing firm, there are sure to be redundancies.

Now might be an opportune time for domain firms that are hiring to reach out to those affected.