Monday.com cuts 20% of workforce as AI reshapes enterprise software landscape

Monday.com is laying off 620 employees, which constitutes approximately 20% of its total workforce. According to a Form 6-K, the company is implementing this reduction to pivot toward an AI-driven growth strategy. This decision comes as AI reshapes the enterprise software landscape and the SaaS sector faces increasing pressures. The company aims to transition into an AI-driven platform to maintain competitiveness and align its operational structure with new technological advancements in the software industry.