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Monday.com Investors Approve Doubling CEOs’ Salaries Amid Layoffs and Stock Decline

How 2 Israeli newsrooms covered this story — translated into English and compared side by side.

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First reported by Globes · 7 hours ago

What happened

Monday.com’s shareholders approved a plan to double the co-CEOs’ salaries by 2029 despite recent layoffs and a nearly 50% stock price drop since its 2021 IPO. The company reported strong revenue growth but faces scrutiny over workforce cuts and market challenges from AI competitors.

01Monday.com shareholders approved doubling co-CEOs’ compensation by 2029 despite layoffs and stock decline.
02Co-CEOs Roy Mann and Eran Zinman’s pay will rise from $7.3 million to $14.6 million gradually.
03The company laid off about 620 employees weeks after the CEOs requested the raise.
04Monday.com’s revenue grew to over $1 billion annually since its 2019 IPO, with strong Q1 2024 results.
05Stock price dropped 47% since IPO, raising concerns amid workforce and AI competition challenges.
06Board includes CEOs, Wix CEO Avishai Abrahami, and major investors from Entree Capital and Insight Partners.

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

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