Monday.com joins the list of tech companies citing AI as a reason for layoffs — 20 more examples

Monday.com, the Tel Aviv-based work management software company, became the latest tech company to cite AI as a factor in job cuts, laying off about 20% of its workforce (over 600 employees) as part of a restructuring plan tied to its AI-driven growth strategy. Co-founder Eran Zinman said the move was not to reduce costs or replace people with AI but to adapt to an AI-first vision. The company expects $45-$55 million in net restructuring charges but still projects up to 20% year-over-year revenue growth for 2026. According to a Financial Times analysis, U.S. tech companies have cut nearly 140,000 jobs since the start of this year, with Amazon, Oracle, Meta, and Microsoft accounting for almost 50,000 of those cuts. The FT also found that companies citing AI as a factor in job cuts have underperformed the Nasdaq by almost 10% in the 30 trading days following their announcements. Meanwhile, AI-focused companies like Anthropic and OpenAI are hiring rapidly, and some firms like Meta and IBM are shifting headcount into AI roles rather than eliminating jobs entirely. The article lists 20 examples of tech companies that have announced significant layoffs with AI as a stated factor, including Microsoft, Oracle, GitLab, Google, Intuit, Meta, Cisco, Cloudflare, General Motors, Coinbase, PayPal, Snap, IBM, Atlassian, Dell, Block, Salesforce, and Amazon.