Monday.com co-CEOs seek to nearly double their pay after laying off 620 workers

There’s a certain kind of corporate choreography that never goes out of style: cut headcount on Tuesday, propose a fat raise for the C-suite by Friday. Monday.com’s co-CEOs Roy Mann and Eran Zinman appear to be executing that playbook with remarkable precision. The Israeli work management software company laid off roughly 620 to 630 employees on July 22, representing about 20% of its global workforce. Days later, a compensation proposal surfaced that would nearly double the co-CEOs’ annual pay to between $14 million and $14.6 million each by 2029, up from their current packages of roughly $7 million to $7.3 million. The numbers behind the restructuring Monday.com framed the layoffs as a strategic pivot toward becoming an “AI Work Platform” built around collaboration between AI agents and human workers. About 350 of the affected employees were based in Tel Aviv, the company’s home turf. Mann and Zinman called the decision “painful yet necessary.” The restructuring came with upgraded financial guidance. The company raised its 2026 operating margin forecast from 13% to 15% and maintained a target of up to 20% year-over-year revenue growth. The compensation proposal The proposed pay pa...