Monday.com is laying off up to 630 employees — about 20% of its global workforce — with around 350 employees in Tel Aviv affected, the company announced Wednesday. The founders said the move was the most painful decision since launching the company but argued the organization must adapt to an AI-driven future.
Monday.com has confirmed that 350 of the 630 employees being laid off are based at its Tel Aviv headquarters, the company announced Wednesday afternoon. In a letter to staff, the founders described the workforce reduction — the largest in the company's history — as the most painful decision since launching the firm, but said the company must restructure for an AI-driven era. The confirmation follows a rapid sequence of updates that began with an unverified report Wednesday morning.
The first report, at 11:04 Jerusalem, indicated an unnamed Israeli tech company was cutting 20% of its staff. Minutes later, Monday.com confirmed it was laying off 620 employees, also 20% of its workforce. By 11:04, N12's Yuval Shadai reported that 350 of those affected were Israeli. The figure was then revised to 630 total layoffs, with more than half in Israel. The Zioneer reported that figure at 12:09 Jerusalem, and the company since clarified that the 350 Israeli employees are those at its Tel Aviv headquarters.
Monday.com has been positioning itself for an AI-focused future. As The Zioneer reported on Monday, June 15, the company allocated $50 million to an AI investment arm targeting Israeli startups. The layoffs come amid a wave of workforce reductions across the Israeli tech sector, including Elementor cutting 30% of staff and Artlist laying off roughly 40% of its workforce due to AI shifts, as The Zioneer has reported.
It remains unclear which specific teams or departments within Monday.com are most affected by the cuts, and the company has not disclosed severance terms or whether further restructuring is planned.
5 developments
- DevelopingMonday.com allocates $50 million for Israeli AI startups fund
- DevelopingIsraeli web-builder Elementor lays off 100 workers, 30% of staff
- DevelopingIsraeli tech firm Artlist to lay off ~40% of staff, citing shift to AI model
- StrongMicrosoft to lay off nearly 5,000 employees, majority in Xbox unit
Source and signal
- Internal intake