Monday.com plans 20% layoffs citing 'AI-driven growth strategy'

Monday.com cited its "AI-driven growth strategy" in its layoff plans. Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images Monday.com plans to cut 20% of its workforce, the company said in a securities filing. The project management platform cited its "AI-driven growth strategy" in the disclosure. The company's stock has slumped in the last year as fears of a "SaaSpocalypse" grow. Big cuts are coming for Monday.com. The enterprise software company plans to cut 20% of its workforce, according to a Form 6-K it filed. The layoffs are meant to align the company with its "strategic focus on the AI Work Platform," the disclosure said. Monday.com joins the growing group of companies citing AI while announcing layoffs, like Snap and Block. Monday.com said that it was pursuing an "AI-driven growth strategy." While Monday.com plans to cut 20% of its workforce, it also said it plans to continue hiring in areas of focus. It's not immediately clear exactly how many workers will be affected. In its 2025 annual report, Monday.com said that it had 3,155 employees. Monday.com did not immediately respond to a request for comment from Business Insider. The company's stock rose throughout the morning, though it has since ticked back down. The stock has slumped roughly 75% in the last year. Monday.com provides project management software to enterprises. This category is the target of growing "SaaSpocalypse" worries. Investors and analysts fret that AI and vibe coding could weaken companies' reliance on these tools. Read the original article on Business Insider