Israeli workplace software firm monday.com, which makes project and work management tools, is cutting about 630 jobs, or 20% of its workforce, as it shifts investment to its AI Work Platform.

The move is expected to result in net charges of US$45 million to US$55 million.

The company said it will reinvest the savings in AI engineering and product development.

It also raised its 2026 non-GAAP operating margin outlook to 15% from 13%, while keeping its revenue growth target at 19% to 20%.

The cuts come despite continued growth. Monday.com reported Q1 2026 revenue of US$351.3 million, up 24% year on year, and GAAP net income of US$28 million.

It had 3,211 employees as of March 31, 2026.

Monday.com launched its AI Work Platform in May 2026.

The product includes native AI agents and tools that let teams create custom agents and workflows using plain language.

Rivals Asana and Atlassian push similar agent-based automation in work management software.

🔗 Source: TechCrunch

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