Intuit to lay off over 3,000 employees to refocus on AI
Intuit is laying off approximately 3,000 employees, which represents 17% of its workforce, to focus on integrating AI into its products. CEO Sasan Goodarzi stated that the layoffs aim to simplify the company's structure and enhance its AI initiatives. Despite reporting strong revenue growth, Intuit's stock has underperformed compared to the broader market amid concerns about its ability to compete in the evolving tech landscape.
- ▪Intuit is letting go of 17% of its staff, or about 3,000 employees.
- ▪The layoffs are intended to reduce complexity and refocus on AI efforts.
- ▪Intuit's shares have consistently underperformed the S&P 500 over the past year.
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Enterprise software giant Intuit is letting go 17% of its staff, or about 3,000 people, as it seeks to divert resources towards baking in AI into its products, Reuters reported, citing an internal memo sent to employees. The memo by CEO Sasan Goodarzi said the layoffs are meant to reduce complexity by simplifying the company’s corporate structure and help it focus on AI efforts, according to Reuters. The company, which makes accounting, tax and personal finance software like TurboTax, QuickBooks, and Credit Karma, had 18,200 employees worldwide as of July 2025, according to its annual report. Intuit did not immediately return a request for comment, or respond to questions about whether its management, directors, or its CEO would take a pay cut.
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