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Monday.com Proposes Doubling Founders' Salaries Despite Recent Layoffs and Stock Decline

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First reported by Globes · 2 hours ago

What happened

Monday.com plans to double the salaries of its co-founders despite a 40% stock decline and recent layoffs of 620 employees. The company cites strong revenue growth since its 2021 IPO but faces market uncertainties and competitive pressures. The proposed compensation changes include increased base salaries, bonuses, and equity grants, pending shareholder approval.

01Monday.com proposes doubling co-founders' salaries to about $14 million each.
02The company’s revenue grew from $308 million to $1.2 billion since its 2021 IPO.
03Monday.com’s stock has fallen 40% this year, now valued at $3.8 billion.
04620 employees were laid off recently amid market uncertainty and AI competition.
05Salary increases include higher base pay and unchanged bonus potential up to 200%.
06Equity grants will increase and shift to 60% performance-based by 2029.

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

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