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This news did come as a surprise to me: monday.com MNDY 0.00%↑ plans to lay off approximately 620 employees, or about 20% of its workforce. The founders Roy Mann and Eran Zinman explain this radical move (as detailed on LinkedIn) as part of the company’s transformation from a traditional work management provider to an “AI Work Platform.” The organization is to become flatter, faster, and more focused on autonomous teams.
From Hiring Spree to Layoffs
The problem: As recently as February, monday.com projected a roughly 15% increase in headcount by 2026 - primarily in sales and development. In Q1, the workforce actually grew again by 56 to 3,211 employees. It wasn’t until May that this target was scaled back to a largely constant headcount in 2026. Now comes a significant reduction of 20%.
This abrupt change in strategy within five months raises questions about management’s planning.
