Monday.com cuts hundreds of jobs; read CEO Eran Zinman's 'layoff email' to employees
Monday.com is laying off 20% of its workforce, approximately 630 employees, as part of a strategic pivot toward an AI-focused operating model. CEO Eran Zinman stated the move is necessary to adapt the company's structure for the new AI era.
Why it matters
This reflects a broader trend in the tech industry where companies are restructuring and reducing headcount to prioritize AI integration.
Israeli workplace software maker Monday.com is laying off hundreds of employees as part of a restructuring plan. The software company announced the layoffs in an Securities and Exchange Commission (SEC) filing. The company said it is reducing its headcount by 20%, or about 630 staff, to “support a leaner, more focused operating model” as it concentrates on its AI Work Platform.In the SEC filing, the Tel Aviv-based company said that it has "initiated a restructuring plan." In a memo sent to employees about the layoffs, posted to LinkedIn, Eran Zinman, a cofounder of the company, claimed that the move was not about replacing employees with technology. "We are not making this change to protect what we have.
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