Monday.com cites AI in layoffs as tech job cuts surpass 140,000 in 2026
8 reported
Monday.com, a Tel Aviv-based work management software company, announced it will lay off about 20% of its workforce, or just over 600 employees, citing a restructuring plan tied to its AI-driven growth strategy. The company disclosed the cuts in an SEC filing on Wednesday, expecting $45 million to $55 million in net restructuring charges while still projecting up to 20% year-over-year revenue growth for 2026. Co-founder Eran Zinman told employees in a LinkedIn memo that the move was not made to reduce costs or replace people with AI, but to adapt the organization to an AI-first vision. According to a Financial Times analysis, U.S. tech companies have cut nearly 140,000 jobs since the start of 2026, with Amazon, Oracle, Meta, and Microsoft accounting for almost 50,000 of those cuts as they invest heavily in AI data centers. The FT also found that companies citing AI as a factor in layoffs have underperformed the Nasdaq by almost 10% in the 30 trading days following their announcements. Meanwhile, AI-focused companies like Anthropic and OpenAI are hiring rapidly, and some firms like Meta have moved thousands of employees into new AI-focused roles alongside layoffs. This report is based solely on a single TechCrunch article and has not been cross-referenced with other sources.
What’s reported
Monday.com laid off about 20% of its workforce, or just over 600 employees, citing a restructuring plan tied to its AI-driven growth strategy.
The company expects $45 million to $55 million in net restructuring charges but still projects up to 20% year-over-year revenue growth for 2026.
Co-founder Eran Zinman said the move was not to reduce costs or replace people with AI, but to adapt to an AI-first vision.
According to Financial Times analysis, U.S. tech companies have cut nearly 140,000 jobs since the start of 2026.
Amazon, Oracle, Meta, and Microsoft accounted for almost 50,000 of those cuts.
The FT found that companies citing AI as a factor in layoffs underperformed the Nasdaq by almost 10% in the 30 trading days following announcements.
AI-focused companies like Anthropic and OpenAI are hiring rapidly.
Meta moved roughly 7,000 employees into new AI-focused roles while laying off 8,000 others.
Key figures
Eran Zinman, co-founder of Monday.com
Financial Times (as source of analysis)
Sources: TechCrunch
