Monday.com says it will cut about 630 jobs to focus on AI work tools

In short: Monday.com says it is cutting about 20% of its workforce, roughly 630 employees, as it shifts more of its spending toward AI features.

What happened

Monday.com, a company that makes workplace software, said it will reduce its headcount by 20%, or about 630 staff. The company described the move as a way to run a leaner and more focused business.

The layoffs are tied to Monday.com’s push toward what it calls its AI Work Platform. Earlier this year, the company said it redesigned its products around the idea that customers want “AI agents” to work alongside employees. An AI agent is a software helper that can do tasks for you, like a digital assistant that follows instructions.

According to the report, this AI platform includes a no-code app builder (a way to build simple work apps without programming), a customizable AI agent, workflow automation tools (like setting up “if this happens, then do that” rules), and a chatbot that can generate reports and update dashboards.

Monday.com also said it expects to record $45 million to $55 million in restructuring charges related to these changes.

Why it matters

This is part of a broader pattern in the tech industry. Many companies are cutting jobs while putting more money into AI projects. For workers and customers, it can mean faster changes to the tools people use at work, and also more uncertainty about which roles companies will keep as software takes on more routine tasks.

Source: TechCrunch AI