Monday.com Cites AI as Factor in Layoffs, Joining 19 Other Tech Companies

Tel Aviv-based work management software company Monday.com has become the latest tech company to cite AI as a factor in job cuts, laying off about 20% of its workforce or roughly 600 employees as part of a "restructuring plan" tied to its "ongoing transformation of its product, marketing, and go-to-market strategy." The company expects $45 million to $55 million in net restructuring charges but still projects up to 20% year-over-year revenue growth for 2026.

AI and Job Cuts: The Latest Trend in Tech

According to new Financial Times analysis, U.S. tech companies have slashed nearly 140,000 jobs since the start of this year, with Amazon, Oracle, Meta, and Microsoft alone accounting for almost 50,000 of those cuts as they funnel hundreds of billions of dollars into AI data center buildouts. Interestingly, 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, suggesting the market doesn't entirely buy the stories that the companies are telling.

Companies citing AI as a factor in job cuts have come under scrutiny for their explanations, with some experts questioning the validity of AI as a reason for layoffs.

• Companies like Anthropic and OpenAI are hiring rapidly, absorbing some of the talent shed elsewhere in the industry.
• Meta, for instance, moved roughly 7,000 employees into new AI-focused roles even as it laid off 8,000 others.
• IBM is tripling entry-level hiring for AI and hybrid-cloud roles alongside recent cuts.

Tech Companies That Have Announced Significant Layoffs This Year

Below is a list of tech companies that have announced significant layoffs this year with AI as a stated factor:

• Microsoft (July 9, 2026): Cut about 4,800 roles, or 2.1% of its global workforce, most of them in its Xbox gaming unit.
• Oracle (June 22, 2026): Disclosed in late June that it had reduced its workforce by 21,000 employees over the past 12 months, a decline of 13%.
• GitLab (June 3, 2026): Laid off roughly 350 workers, about 14% of its staff, to fund AI infrastructure investment and handle surging traffic from AI workflows.
• Google (ongoing through May): Cut employees across its Cloud division, including its Threat Intelligence Group and Mandiant-linked cybersecurity staff.
• Intuit (May 20, 2026): Announced plans to eliminate roughly 3,000 jobs — about 17% of its total workforce — in a restructuring centered on reducing complexity and reallocating resources toward AI.
• Meta (May 20-21, 2026): Laid off about 8,000 employees, roughly 10% of its workforce, while moving about 7,000 employees into new AI-focused roles.
• Cisco (May 14, 2026): Cut nearly 4,000 jobs, about 5% of its workforce, despite reporting better-than-expected profit and revenue.
• Cloudflare (May 7-8, 2026): Cut about 20% of its workforce (1,100 people), reporting quarterly revenue of $639.8 million, up 34% year-over-year and the highest single quarter in company history.
• General Motors (May 12, 2026): Eliminated 500 to 600 jobs, largely in IT roles in Austin, Texas, and Warren, Michigan, saying it was reevaluating its workforce needs amid uncertain market conditions.
• Coinbase (May 5, 2026): Cut about 700 employees, or 14% of its staff, as part of a restructuring aimed at addressing market volatility and increasing AI efficiency.
• PayPal (May 5, 2026): Announced plans to cut around 20% of its workforce over the next two to three years — north of 4,500 jobs — as part of a turnaround strategy centered on AI adoption and organizational simplification.
• Snap (April 16, 2026): Cut roughly 16% of its global workforce — about 1,000 full-time employees — and closed more than 300 open roles, with CEO Evan Spiegel citing AI advancements as a key driver.
• IBM (rolling through 2026): Cut between 3,000 to 9,000 U.S. positions eliminated, bringing IBM's cumulative total since September 2024 above 15,000.
• Atlassian (March 11, 2026): Cut about 1,600 jobs (10% of its workforce) to "rebalance" toward AI and enterprise sales.
• Dell (January 30, though disclosed in March 2026): Cut about 10% of its workforce or roughly 11,000 jobs in fiscal 2026.
• Oracle (March 5-31, 2026): Cut thousands of jobs via terminal emails, even as Oracle posted $3.7 billion in quarterly net income, up 27% year-over-year.
• Block (February 26-27, 2026): Cut 4,000 jobs — nearly half its workforce, down to under 6,000 from over 10,000.
• Salesforce (February 10, 2026): Laid off fewer than 1,000 employees across marketing, product management, data analytics, and its Agentforce AI unit.
• Amazon (January 28, 2026): Cut 16,000 corporate jobs, following 14,000 cuts in October 2025 — about 9% of its corporate workforce in three months.