Intuit Cuts 3,000 Jobs and Shuts 2 Offices to Sharpen AI Focus
Updated
Updated · Reuters · May 20
Intuit Cuts 3,000 Jobs and Shuts 2 Offices to Sharpen AI Focus
13 articles · Updated · Reuters · May 20
About 3,000 Intuit employees — 17% of its global workforce — are being laid off as the company restructures ahead of third-quarter results, with the stock down nearly 5% in morning trading.
CEO Sasan Goodarzi told staff the cuts are meant to reduce complexity and simplify the organization so Intuit can focus on key bets, especially embedding AI across its products.
Reno and Woodland Hills offices will be wound down as teams are consolidated into key hubs, and affected U.S. employees will stay on payroll until July 31 with at least 16 weeks of base pay plus two weeks per year of service.
The move follows Intuit's multi-year AI partnerships with Anthropic and OpenAI and adds to a broader tech layoff wave, with more than 111,000 jobs cut across over 140 tech companies this year, according to Layoffs.fyi.
Why is Intuit firing 3,000 workers while simultaneously opening 600 new offices for human experts?
With record profits, can Intuit's AI pivot fix customer complaints about its current software's declining quality?
Is 'investing in AI' becoming the new corporate excuse to justify mass layoffs amid financial success?