Monday.com plans 20% layoffs citing 'AI-driven growth strategy'

Monday.com cited its "AI-driven growth strategy" in its layoff plans. Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images Monday.com plans to cut 20% of its workforce, the company said in a securities filing. The project management platform cited its "AI-driven growth strategy" in the disclosure. The company's stock has slumped in the last year as fears of a "SaaSpocalypse" grow. Big cuts are coming for Monday.com. The enterprise software company plans to cut 20% of its…