Monday.com Joins Growing List of 20+ Tech Companies Citing AI in 2026 Layoffs

TechCrunch (Layoffs) · United States · Jul 26, 2026

Monday.com announced a 20% workforce reduction (roughly 600 employees) tied to an AI-driven restructuring, joining a wave of major tech companies that have collectively cut nearly 140,000 U.S. jobs since the start of 2026, according to Financial Times analysis. Companies including Oracle (21,000 cuts), Meta (8,000), Microsoft (4,800), PayPal (~4,500), and Block (~4,000) have all cited AI adoption and organizational simplification as factors. While AI-focused firms like Anthropic and OpenAI are absorbing some displaced talent, the scale of displacement signals significant shifts in white-collar tech hiring demand. Notably, the FT found that companies citing AI as a layoff factor have underperformed the Nasdaq by nearly 10% in the 30 trading days following announcements, suggesting market skepticism about the narrative.