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 packages for Mann and Zinman are structured primarily around equity awards, with a 60/40 split between performance-based and time-based vesting. Monthly base salaries would rise 19% to NIS 110,000 in the first year, then climb to NIS 115,000 in year two and NIS 120,000 in year three.

By 2029, each co-CEO would be pulling in approximately $14 million to $14.6 million annually. That’s roughly double their current compensation.

The package includes double-trigger vesting protections, meaning the equity accelerates only if both a change of control event occurs and the executive is terminated. Time-based awards make up 40% of the package and vest regardless of results — that’s $5.6 million to $5.8 million per CEO per year in equity that arrives on schedule no matter what happens.

Shareholders are scheduled to vote on the proposal in early August 2026.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.