Tech companies cite AI in 140,000+ job cuts since 2025

On July 23, 2026, Monday.com, a work management software firm based in Tel Aviv, disclosed in an SEC filing that it would lay off approximately 20% of its workforce, equating to over 600 employees, as part of a restructuring initiative linked to its AI-focused growth strategy. Co-founder Eran Zinman clarified that this decision was not aimed at cutting costs or replacing staff with AI but rather aligning with an AI-first approach. The company anticipates incurring $45–55 million in restructuring expenses while forecasting a revenue growth of up to 20% year-over-year for 2026. Since the beginning of 2026, nearly 140,000 jobs have been eliminated in U.S. tech, with major layoffs from companies like Microsoft and Oracle.