Monday.com, an Israeli workplace software company, announced it is laying off approximately 630 employees, representing a 20% reduction in headcount. The move is part of a broader restructuring plan aimed at refocusing the company’s investments around AI initiatives. According to the company, the restructuring is intended to support a 'leaner, more focused operating model' as it prioritizes its AI Work Platform. The AI Work Platform includes a no-code app builder, a customizable AI agent, a workflow automation tool, and a chatbot capable of performing tasks such as generating reports and updating dashboards.
The decision aligns Monday.com with a trend among large tech firms that have been reorganizing to invest more in AI. Layoffs.fyi data indicates that over 122,000 tech roles have been cut in 2026, with 78% of companies citing a need to refocus on AI as a reason for layoffs. Monday.com expects to incur charges of $45 million to $55 million due to the restructuring. The company had already pivoted earlier this year to position its AI platform as a core offering, redesigning its product to meet the growing demand from enterprise customers for AI agents that can collaborate with employees.
Source: techcrunch
