Israeli workplace software company Monday.com says it is cutting as many as 620 employees, or 20 percent of its global workforce, as it adapts its operations to the era of artificial intelligence.
About 350 employees in Tel Aviv are expected to be affected by the downsizing plan, the company’s co-founders say.
Monday.com employs about 3,000 people globally, about half of whom are located in Tel Aviv.
The layoffs, which come amid widespread worries about AI agents replacing human workers in the tech industry, follow nine months of restructuring as the company adopted the use of more autonomous teams.
“This is the most painful decision we have made since founding monday.com – yet we are certain it is the right one. We made it. We own it. And we take full responsibility for it,” Monday.com co-founders Roy Mann and Eran Zinman write in a letter to employees. “The organization we built for our previous chapter is not the organization that fits the new AI era.”
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