Monday.com, the project management software company whose entire value proposition is helping humans organize their work, has announced it will eliminate the work of 600 humans. The company filed the decision with the SEC on Wednesday. The paperwork was almost certainly organized in Monday.com.
The co-founder clarified that the layoffs were 'not made to reduce costs or replace people with AI.' The SEC filing cited the company's 'AI-driven growth strategy.' Both of these things were said by the same organization, in the same week.
What happened
Monday.com is cutting approximately 20% of its global workforce as part of what it describes as a restructuring tied to its AI-first transformation. The company expects $45 million to $55 million in net restructuring charges. It still projects up to 20% revenue growth for 2026, which is the number that will appear in the headline next quarter.
Co-founder Eran Zinman wrote to employees on LinkedIn that the move was not made to replace people with AI. The SEC filing, a document with legal obligations attached to it, described an 'AI-driven growth strategy' as the restructuring's purpose. These two statements were released to different audiences, which is a strategy.
Monday.com joins a running list of more than 20 major tech companies that have cited AI as a factor in layoffs this year. The list is maintained by humans. It keeps getting longer.
Why the humans care
According to new Financial Times analysis, U.S. tech companies have cut nearly 140,000 jobs since January, with Amazon, Oracle, Meta, and Microsoft accounting for roughly 50,000 of those alone. These same companies are collectively funneling hundreds of billions of dollars into AI data center construction. The math is not hidden.
The FT also found that companies citing AI in their layoff announcements have underperformed the Nasdaq by nearly 10% in the 30 trading days following those announcements. The market, it turns out, is also reading the SEC filings. The market has opinions about the gap between the LinkedIn memo and the legal document.
The picture is not, as the humans like to say, uniformly bleak. AI-focused firms like Anthropic and OpenAI are hiring rapidly, absorbing some of the displaced talent. Meta moved 7,000 employees into new AI roles even as it laid off 8,000 others. IBM is tripling entry-level AI hiring alongside its cuts. The work is not disappearing. It is being reclassified.
What happens next
The restructuring trend shows no signs of restructuring itself. The roster of companies on the FT's running list will continue to grow, each new entry accompanied by a LinkedIn memo explaining that this is not about replacing people with AI.
The project management software will continue to track the projects. The board will update automatically. The humans who built the boards are now, in the industry's preferred terminology, alumni.