Monday.com cuts 20% of workforce, joining tech layoffs tied to AI

Corporate ActionIndustry
โดย Fortune·Read original
Summary · why it matters

Monday.com is laying off about 20% of its workforce, or just over 600 employees, as part of a restructuring plan tied to its AI-driven growth strategy. The Tel Aviv-based work management software company disclosed the cuts in an SEC filing, with co-founder Eran Zinman telling employees the move was not made to reduce costs or replace people with AI but to adapt the organization to an AI-first vision. Monday.com expects $45 million to $55 million in net restructuring charges and still projects up to 20% year-over-year revenue growth for 2026. The layoffs add to a wave of tech job cuts this year, with U.S. tech companies slashing nearly 140,000 jobs since the start of 2026, according to Financial Times analysis, as firms including Amazon, Oracle, Meta, and Microsoft funnel hundreds of billions of dollars into AI data center buildouts. The FT also found that companies citing AI as a factor in job cuts have underperformed the Nasdaq by almost 10% in the 30 trading days following their announcements, though AI-focused companies like Anthropic and OpenAI are hiring rapidly and some firms are shifting headcount into AI roles.

Impact on stocks 7

Artificial Intelligence · 5 stocks
Cloud & Digital Infrastructure · 2 stocks
Monday.Com Ltd
MNDY
▼ NegativeCapitalrelevance

Monday.com announces layoffs of 20% workforce and expects $45-55M restructuring charges.

Theme Impact 2

Off-coverage companies 2

AnthropicPrivate± Mixed
relevance

OpenAIPrivate± Mixed
relevance

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