Monday.com is cutting about 630 jobs, which is 20 percent of its workforce. The Israeli software company says it needs a leaner team to focus on AI. It recently redesigned its whole product around an 'AI Work Platform.' This platform includes a no-code app builder, customizable AI agents, and workflow automation tools. The layoffs are part of a bigger trend. More than 122,000 tech workers have lost their jobs in 2026 so far. A record 78 percent of companies blame their cuts on a need to invest more in AI.
π The Backstory
Monday.com started as a simple project management tool. It grew fast and became a popular workplace software. But the AI boom has changed the tech industry. Companies are spending huge amounts on AI development. To pay for it, they are cutting costs elsewhere, especially in staff. This is happening across the whole tech sector. May 2026 had the highest number of tech layoffs in years. Monday.com expects to pay $45 million to $55 million for the restructuring. The company says AI agents that work alongside employees are the future of work.
π― Why It Matters
Hundreds of thousands of tech workers are losing jobs as companies chase AI. This trend affects real people and families, and it raises big questions about who benefits from the AI revolution.
Monday.com is cutting about 630 jobs, which is 20 percent of its workforce. The Israeli software company says it needs a leaner team to focus on AI. It recently redesigned its whole product around an 'AI Work Platform.' This platform includes a no-code app builder, customizable AI agents, and workflow automation tools. The layoffs are part of a bigger trend. More than 122,000 tech workers have lost their jobs in 2026 so far. A record 78 percent of companies blame their cuts on a need to invest more in AI.
Monday.com started as a simple project management tool. It grew fast and became a popular workplace software. But the AI boom has changed the tech industry. Companies are spending huge amounts on AI development. To pay for it, they are cutting costs elsewhere, especially in staff. This is happening across the whole tech sector. May 2026 had the highest number of tech layoffs in years. Monday.com expects to pay $45 million to $55 million for the restructuring. The company says AI agents that work alongside employees are the future of work.
Hundreds of thousands of tech workers are losing jobs as companies chase AI. This trend affects real people and families, and it raises big questions about who benefits from the AI revolution.