Monday.com plans 20% layoffs citing an 'AI-driven growth strategy.' Read the co-CEO's memo to employees.

Monday.com is reducing its global workforce by approximately 20%, affecting about 620 people, to align with a new strategic focus on its AI Work Platform. This change is driven by a vision to capture a new market opportunity presented by AI, aiming for a flatter organization with more autonomous teams. The company states that the decision is not to reduce costs or replace people with AI, but rather to adapt for future growth and competition, with plans to reinvest savings into talent, products, and AI.

• 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.
  Continue reading https://www.businessinsider.com/monday-com-layoffs-ai-growth-strategy-2026-7