Monday.com, an Israeli workplace software company, is laying off about 630 employees, or 20% of its workforce, to restructure and prioritize its AI Work Platform. This platform includes AI tools like a no-code app builder, customizable AI agents, and workflow automation, reflecting the company's shift to meet growing enterprise demand for AI collaboration. The layoffs align with a broader tech industry trend of job cuts to reallocate resources toward AI development. Monday.com expects restructuring costs of $45 to $55 million as it sharpens its focus on AI innovation.
monday.com is evolving beyond a seat-based subscription model by incorporating usage-based AI credits, boosting revenue tied to digital activity rather than just user count. The company shows strong enterprise growth, with a 116% net revenue retentio...
Monday.com is laying off about 620 employees, roughly 20% of its global workforce, as it restructures to prioritize AI-powered collaboration tools. The company aims to shift from traditional work management to an AI-enabled workspace where humans and...
