Monday.com Lays Off 620, 20% of Workforce, Calling It an AI Pivot as Revenue Grows 24%

monday.com cuts about 620 people, 20% of its staff, to rebuild as an AI platform while its revenue grows 24% and its stock has halved; 4,500 Google workers delivered the largest job-security petition in the company's history last week; Meta's 4,665 California and Washington WARN separations become final today; and Intel's Q2 earnings tomorrow may surface the size of its undisclosed Data Center and AI Group cuts.

July 2026 so far (through July 22), newly announced cuts with disclosed numbers: roughly 13,900 confirmed layoffs across 26 companies, including about 1,800 Allianz call-centre roles, fewer than 2,000 Meituan cuts, 620 monday.com roles, 260 Sprout Social, 200 Redis, 193 Magic Leap, 107 Charter NOC engineers, and roughly 500 Verizon corporate jobs. Meta's 4,665 WARN separations become final today but were announced in May, so they are not in the July tally. Excludes undisclosed cuts (Intel DCG, Xero, Fliggy, Polygon, Coursera) and non-corporate operations (Amazon Florida warehouses).

monday.com: 620 cut, 20% of staff, to "realign" around AI

The Tel Aviv work-management software company filed an SEC Form 6-K on Wednesday, July 22, announcing a restructuring plan that cuts approximately 20% of its current workforce. Calcalist/Ynet and Haaretz put the number at about 620 employees, roughly 350 of them in Israel, where more than half of the company's 3,155-person workforce (as of end-2025) is based.

Co-CEOs Roy Mann and Eran Zinman told employees the restructuring aligns the company's organizational structure with its AI Work Platform strategy, unveiled in May. The plan flattens management layers and creates "smaller, more autonomous teams," language that echoes the restructuring vocabulary of Xbox ("entrepreneurial change in scope"), Intel ("simplicity and speed"), and Verizon ("cost reset") this month.

Stated reason vs. real mechanism. monday.com stressed the cuts are "not a short-term cost-cutting measure or the result of replacing employees with artificial intelligence." Instead, the company said it is reallocating resources toward product development, AI technologies, and future growth. The SEC filing says the same: the plan supports "a leaner, more focused operating model as the Company continues to invest in its AI-driven growth strategy."

The real mechanism is more specific. monday.com's stock fell 50.9% in the first half of 2026 as investors bet that AI coding agents like Claude Code could let companies build their own project-management tools, eroding the SaaS business model. Yet the company's own numbers show no sign of disruption yet: Q1 2026 revenue was $351.3 million, up 24% year over year, operating profit doubled to about $20 million, and enterprise customers contributing more than $500,000 in annual recurring revenue grew 74%. The full-year forecast is approximately $1.46 billion in revenue, roughly 20% growth.

So this is a company growing a quarter at a time, cutting a fifth of its staff because the market believes AI will eat its category. CFO Eliran Glazer said it himself in the Q1 release: "the AI productivity gains we are seeing inside our own organization are demonstrating that we can grow revenue without growing headcount in lockstep." A Calcalist analysis of monday.com's July 1 cancellation of 10.8 million reserved equity-plan shares noted the same logic: if companies can generate more revenue with fewer employees, they no longer need large equity reserves. The company also scrapped a planned office expansion at Tel Aviv's EcoTower.

One month before the layoffs, monday.com launched Monday Ventures, a $200 million investment arm targeting AI startups in agents, workflow automation, and cybersecurity. The SEC filing says the company "expects to continue hiring in key strategic areas throughout 2026."

Severance. Per Kan News via JFeed: financial assistance, accelerated vesting of stock grants, continued medical coverage, and emotional support. The SEC filing estimates $30 to $35 million in severance and related costs, $30 to $35 million in office-space impairments, and about $15 million in non-cash share-based compensation credits, for net charges of $45 to $55 million. The plan is expected to be substantially completed in the second half of 2026.

Teams hit. The filing does not name specific teams. The "flatten management" framing suggests layers and overhead roles bear the brunt, though the scale of a 20% cut makes it unlikely that only management is affected.

4,500 Google employees petition Pichai for guaranteed severance and voluntary exits

Not a layoff, but the largest employee-led job-security action in Google's history, and a direct response to the AI-restructuring pattern this tracker has covered all month.

On Thursday, July 16, members of the Alphabet Workers Union delivered a petition signed by more than 4,500 employees to CEO Sundar Pichai and three senior executives (Cloud CEO Thomas Kurian, SVP Rick Osterloh, SVP Nick Fox) at Google's Mountain View campus. The Verge and ABC7 reported the delivery. None of the executives were in their offices, so the group of about 20 workers slipped the petition under their doors. Roughly 100 employees gathered outside in black T-shirts with a banner carrying the signatories' names.

The petition demands four things, per Times of India: guaranteed severance pegged to the January 2023 packages; voluntary exit packages offered before any involuntary cuts; the option to take severance as extended paid leave rather than a lump sum (aimed at visa holders who risk losing status); and an end to forced-distribution performance ratings under Google's GRAD system, which pushes a set percentage of employees below the line regardless of manager assessments.

Union president Parul Koul told the crowd: "Make no mistake: this is a company that is enjoying massive, unprecedented success. These layoffs and cuts are not difficult decisions, but simply profit being put over the people that make this company run." Alphabet's valuation recently crossed $4 trillion.

The campaign has notched one concrete win: Google has offered voluntary exit packages to more than 70,000 employees since the effort began, a program Pichai publicly credited to employee feedback. The union has roughly 1,400 members out of Alphabet's nearly 191,000 employees. Management has also begun folding "AI fluency" into performance metrics without spelling out how it will be measured, which the union says sharpens anxiety. Google has not commented on the petition.

The action drew fresh coverage July 22 from Outlook Business, Mashable, and others, a week after the original delivery.

Tracking

Meta WARN separations final today. The 4,665 WARN separations across seven California and Washington locations (Menlo Park 2,212; King County, WA 1,395; Burlingame 338; San Francisco 252; Sunnyvale 313; Fremont 81; Playa Vista 74) become final Wednesday, July 22. These are the CA/WA piece of Meta's May layoff of roughly 8,000 employees (about 10% of its workforce). The 26 employees who sued Meta over AI-assisted layoff selection lost their emergency bid July 17; their separations proceed today. Judge Orrick carved out four visa-holding plaintiffs and ordered Meta to file a declaration by tomorrow, Thursday July 23, explaining how those four were selected. A preliminary injunction hearing is set for August 24. An additional 1,160 New York separations are effective August 20. Not a new layoff; the WARN-effective date lands today.

Intel Q2 earnings tomorrow. Intel reports second-quarter results after the close on Thursday, July 23. Wall Street expects about $14.45 billion in revenue and $0.22 in adjusted earnings per share, per Benzinga. The Data Center and AI Group, targeted for undisclosed cuts announced Monday, grew 22% year over year to $5.05 billion in Q1. Intel's stock rose about 8% on the layoff news. CEO Lip-Bu Tan may face analyst questions about the scope of the cuts, which the company has so far refused to disclose.

Verizon Q2 earnings Friday. Verizon reports Friday, July 24. CEO Hemant Schulman's third round of cuts (confirmed July 16, roughly 500 corporate jobs plus 2,500 retail-store transfers) was explicitly not attributed to AI by a company spokesman, though Schulman previously warned about AI-driven reductions. Earnings may clarify whether that denial holds.

Xbox reset. No new cuts this cycle. 1,600 of the 3,200 announced July 6 are still scheduled through the fiscal year. WARN-effective dates for id Software (136 Texas), ZeniMax Online (213 Maryland), and Obsidian (52 California) remain September 4. The ZeniMax Online leadership exodus (covered July 16) and Schreier's reporting on hidden contractor cuts remain the most recent developments.

Excluded today: Robinhood 10% (June 16 SEC 8-K, re-surfaced by BitRss July 22); Oracle "thousands" (June 22 10-K, re-surfaced by windplm.com); a Microsoft July 22 layoff rumor (Blind post, no credible source). All stale or unverified.