Monday.com plans to eliminate approximately 600 employees—20% of its workforce—in the second half of 2026. The enterprise software company cited the need to support a leaner operational model.
The workforce reduction was disclosed in a regulatory filing Wednesday. The company did not specify which departments would be affected or provide additional details about the restructuring timeline.
Monday.com's stock fell 2% following the announcement. The company, which provides work operating system software for businesses, has grown significantly since its 2021 IPO but faces competitive pressures in the enterprise software market.
The planned cuts reflect a broader trend in the technology sector, where companies have pursued efficiency measures to improve profitability. Monday.com's move comes as the industry grapples with balancing growth ambitions against operational costs.
The company has not yet announced severance details or provided guidance on how the restructuring might impact financial performance. Further details are expected as the company progresses through its H2 2026 planning cycle.
Global stock markets fell Monday as investors reassess valuations of major tech firms driving the AI boom. Oil prices surged following renewed Middle East conflict between Iran and Israel.
Tencent Holdings fell its most in over a year as investors reassess the company's mobile gaming prospects. The decline triggered a broader selloff across Chinese gaming stocks.
Internal emails revealed in court filings show Amazon used aggressive practices that pushed competitors like Walmart and Target to raise prices. Amazon denies price-fixing allegations and maintains it works to lower consumer costs.
While Canada and the EU welcomed Chinese electric vehicles in 2024, the United States maintained protective tariffs, diverging sharply from global trade trends.