Key facts
- Monday.com plans to lay off 20% of its workforce.
- The company cited its "AI-driven growth strategy" and focus on its "AI Work Platform" as reasons for the layoffs.
- Monday.com had 3,155 employees as of its 2025 annual report.
- The company intends to continue hiring in specific focus areas.
Enterprise software company Monday.com has announced plans to reduce its workforce by 20%, according to a Form 6-K filing. The company stated that the layoffs are intended to align with its strategic focus on an "AI-driven growth strategy" and its "AI Work Platform." This move places Monday.com among other companies, such as Snap and Block, that have recently cited AI initiatives when announcing workforce reductions. Despite the planned cuts, Monday.com indicated that it will continue to hire in areas deemed critical to its strategy. As of its 2025 annual report, the company employed 3,155 individuals. The company's stock experienced an initial rise on Monday morning before declining, and has seen a significant slump of approximately 75% over the past year. Monday.com provides project management software, a sector facing scrutiny amid concerns that AI and other technological advancements could diminish the reliance on such tools.