tech
Monday.com plans 20% layoffs citing an 'AI-driven growth strategy.' Read the co-CEO's memo to employees.
Monday.com's co-CEO Eran Zinman wrote that the layoffs decision "was not made to reduce costs or replace people with AI."
TL;DR
- Monday.com is cutting 20% of its workforce, impacting around 620 employees.
- The layoffs are part of a strategic shift towards an 'AI Work Platform' and an 'AI-driven growth strategy'.
- The company aims to create a flatter organization with more autonomous teams.
- The decision is not intended to reduce costs or replace people with AI, but to adapt to a new market opportunity.
- Savings from the layoffs will be reinvested in talent, products, AI, and future growth.
- Monday.com previously had 3,155 employees as of its 2025 annual report.
- The company's stock has slumped approximately 75% in the last year.