AI Becomes Leading Reason for Layoffs in the US, Investors Suspect It's an Excuse
monday.com announced cutting 20% of its workforce, citing an AI-driven growth strategy, making it the 21st major tech company to blame AI for layoffs in 2026. Data shows the share of AI-attributed layoffs in the US surged from 7% in January to 40% in May, totaling 101,743 in the first half of the year, but stocks of such companies underperform, suggesting investors view this as an excuse.
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