Monday.com lays off hundreds to focus on AI
Quick Answer
Monday.com is laying off 630 employees, or 20% of its workforce, to focus on its AI Work Platform, which includes a no-code app builder and customizable AI agents.
Quick Take
This restructuring is part of a broader trend in the tech industry, where over 122,000 tech jobs have been cut in 2026 due to a shift towards AI investments.
Key Points
- Monday.com reduces workforce by 20% to streamline operations.
- The AI Work Platform features a no-code app builder and customizable AI agents.
- Tech layoffs in 2026 have surpassed 122,000 roles so far.
- Restructuring costs are estimated between $45 million to $55 million.
- 78% of companies cite AI focus as a reason for layoffs this year.
Source Excerpt
The company said it is reducing its headcount by 20%, or about 630 staff, to "support a leaner, more focused operating model" as it focuses on its AI Work Platform.
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