Israeli office software program maker Monday.com is shedding a whole bunch of workers as a part of a restructuring plan to refocus its investments round AI tasks.
The corporate said it’s decreasing its headcount by 20%, or about 630 workers, to “help a leaner, extra targeted working mannequin” because it concentrates on its AI Work Platform.
Monday.com earlier this yr pivoted onerous in the direction of making its AI platform a core providing, redesigning its total product across the perception that its enterprise prospects more and more need AI brokers to work along with their workers. The AI Work Platform at the moment includes a no-code app builder, a customizable AI agent, a workflow automation instrument, and a chatbot that may do duties like producing reviews and updating dashboards.
The corporate joins a host of large tech firms which have laid off a whole bunch of hundreds of individuals as they search to speculate extra in AI. Tech layoffs in Might hit a monthly high unseen in years, and a file 78% corporations have blamed a have to refocus their efforts round AI as a motive for letting folks go this yr, in response to Layoffs.fyi.
Greater than 122,000 tech roles have been minimize to date in 2026, Layoffs.fyi knowledge reveals.
Monday.com expects to incur $45 million to $55 million in fees as a result of restructuring.
