TL;DRMonday.com plans to cut about 620 jobs, 20 percent of staff, as it restructures around its AI-driven growth strategy and flatter organisation
Monday.com is cutting roughly 20 percent of its global workforce, about 620 people, as the Israeli project management company restructures around what it calls its AI Work Platform. The company disclosed the plan in a Form 6-K filed with the US Securities and Exchange Commission on Tuesday, citing the need to support a leaner operating model aligned with its AI-driven growth strategy. Co-founder and co-CEO Eran Zinman published a note to staff on LinkedIn calling it the most painful decision the company has made since its founding.
The layoffs follow a brutal stretch for Monday.com’s stock, which has lost more than half its value in 2026 and roughly 75 percent from its 52-week high. The company is caught in the broader SaaSpocalypse selloff that has punished enterprise software stocks as investors worry that AI agents and vibe coding could make conventional SaaS tools obsolete. Monday.com’s market capitalisation has fallen to roughly $3 billion, a fraction of the valuations it commanded during the pandemic-era software boom.
Zinman framed the restructuring as an offensive move rather than a defensive one, writing that the company is not making the change to protect what it has but to go all in on what it can become. He said Monday.com had shifted its core vision over the past nine months from managing work to doing the work for customers, with people and AI agents working together in one workspace. The organisation built for the previous chapter, he argued, does not fit the new AI era.
