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Monday.com Cuts 620 Jobs for an 'AI-Driven Growth Strategy,' Then Says the Layoffs Weren't About Replacing People With AI
Ep. 132 03:57

Monday.com Cuts 620 Jobs for an 'AI-Driven Growth Strategy,' Then Says the Layoffs Weren't About Replacing People With AI

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About This Episode

Monday.com told the SEC on July 22 that it is cutting about 20% of its workforce to align with its 'strategic focus on the AI Work Platform' and an 'AI-driven growth strategy.' In a memo the same day, co-CEO Eran Zinman told the roughly 620 departing employees the decision 'was not made to reduce costs or replace people with AI.' Both statements are true, and that is the story: the jobs went away because of a bet on AI, not because AI did the work.

Our Take

Monday.com's filing and its co-CEO's memo are both accurate, which means 620 people lost their jobs to an AI strategy rather than to AI itself — the displacement is arriving ahead of the capability that is supposed to justify it.