Another California tech company lays off thousands, citing AI
Intuit, the maker of TurboTax, announced it will lay off 17% of its workforce, approximately 3,000 employees, as part of a restructuring effort. The company aims to simplify its organization and invest more in artificial intelligence. This move adds to the growing number of layoffs in the tech industry, which has seen over 114,000 job cuts this year alone.
- ▪Intuit is laying off 3,000 employees to cut costs and invest in AI.
- ▪The company reported a 10% increase in revenue to $8.56 billion for the third quarter.
- ▪More than 114,000 tech-sector employees have been laid off this year due to AI and restructuring.
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TurboTax on display in a Costco warehouse. (Gene J. Puskar / Associated Press) By Nilesh Christopher Staff Writer Follow May 22, 2026 3 AM PT 3 min Click here to listen to this article Share via Close extra sharing options Email Facebook X LinkedIn Threads Reddit WhatsApp Copy Link URL Copied! Print 0:00 0:00 1x This is read by an automated voice. Please report any issues or inconsistencies here. The layoffs bludgeoning the tech industry continued this week as artificial intelligence reshapes the industry.Mountain View-based Intuit, the maker of TurboTax, on Wednesday said it was laying off 17% of its workforce, or about 3,000 employees, as part of its restructuring to cut costs and invest in artificial intelligence.The company said it had slowed down due to “too many organizational…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Los Angeles Times.