Monday.com to lay off 620 employees, 20% of workforce

The Israeli tech company Monday.com announced a major round of layoffs, cutting 620 employees — 20% of its workforce — according to N12.

The layoffs are the latest in a series of staff reductions in Israel's tech sector. Over the past month, The Zioneer reported on layoffs at Elementor (30% of staff), Artlist (40%), and Dell Israel, as well as a broader decline in hi-tech employment. Monday.com, which develops project-management software, has not detailed the reasons for the cuts.

5 developments

1. 1 hour ago · 13:06 · 22 JulLatest

   350 employees in Tel Aviv are affected by the layoffs.

2. 12:09 · 22 Jul

   Total layoffs revised to 630; over half are in Israel.

3. 11:14 · 22 Jul

   Total of 620 employees, 20% of workforce, to be laid off.

• Developing10:02 · 15 JunMonday.com allocates $50 million for Israeli AI startups fund
• Developing12:51 · 29 JunIsraeli web-builder Elementor lays off 100 workers, 30% of staff
• Developing17:10 · 16 JunIsraeli tech firm Artlist to lay off ~40% of staff, citing shift to AI model
• Strong19:53 · 6 JulMicrosoft to lay off nearly 5,000 employees, majority in Xbox unit

Source and signal

• Internal intake