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Israeli Tech Firm Monday.com Cuts Hundreds of Jobs Amid AI Shift and Market Challenges

How 7 Israeli newsrooms covered this story — translated into English and compared side by side.

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First reported by Calcalist · 2 hours ago

What happened

Monday.com, an Israeli software company, is cutting 620 jobs worldwide, mainly in Israel, to restructure around AI technologies amid steep stock declines and economic challenges. The layoffs aim to create smaller teams and accelerate AI product development as the company adapts to market shifts and reduced web traffic caused by Google's AI search integration.

01Monday.com is laying off 620 employees, about 20% of its global workforce, mainly in Israel.
02The restructuring focuses on adapting to AI-driven product development and creating smaller, faster decision-making teams.
03Monday.com's stock has dropped about 75% over the past year, now valued at $3.1 billion.
04Google's integration of AI answers in search results reduced traffic and hindered customer acquisition for Monday.com.
05The low dollar-to-shekel exchange rate increased costs, impacting profitability due to payroll expenses in shekels.
06The company aims to maintain competitiveness by investing in AI and closer customer engagement amid market changes.

Summary translated & synthesized from the sources below by baba. Read each original for the full report.

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