Monday.com lays off hundreds to focus on AI
3 hours ago
- Monday.com is laying off 20% of its workforce (about 630 employees) as part of a restructuring plan.
- The company is refocusing investments around its AI Work Platform, which includes a no-code app builder, customizable AI agent, workflow automation tool, and chatbot.
- This move aligns with a broader tech industry trend where companies are cutting jobs to invest more in AI, with 78% of layoffs in 2026 attributed to AI refocusing.
- Over 122,000 tech roles have been cut so far in 2026, according to Layoffs.fyi.
- Monday.com expects to incur $45 million to $55 million in charges due to the restructuring.