Intuit plans to cut workforce by about 17% as tax software maker reckons with slowing growth
The company said the cuts will remove redundant roles and trigger $300 million to $340 million in charges as it deepens AI partnerships.
- Enterprise software giant Intuit is cutting 17% of its workforce, or about 3,000 employees, to refocus resources on integrating AI technology into products like TurboTax, QuickBooks, and Credit Karma.
- CEO Sasan Goodarzi stated the restructuring aims to reduce organizational complexity, while the company signed multi-year agreements with Anthropic and OpenAI to incorporate AI models into software offerings.
- Impacted employees will receive 16 weeks of base pay plus two additional weeks for every year worked, as Intuit winds down its Reno and Woodland Hills offices to consolidate teams.
- Despite reporting $4.65 billion in revenue for its fiscal second quarter, Intuit has underperformed over the past 12 months, trailing competitors pursuing aggressive AI-driven growth strategies.
- Statista reports more than 100,000 job cuts across the tech industry this year, with the current layoff trend on track to outpace both 2024 and 2025 as companies shift expenditures toward AI projects.
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Intuit Q3 Earnings Call Highlights
Intuit (NASDAQ:INTU) reported fiscal third-quarter revenue growth of 10% and raised its full-year outlook, while management outlined plans to reduce the company’s full-time workforce by 17% and adjust its approach to lower-income, price-sensitive tax filers. Chairman and CEO Sasan Goodarzi said the
Intuit to cut 17% of global jobs to streamline operations
Intuit is laying off about 17% of its workforce, or about 3,000 employees worldwide, to streamline operations and sharpen focus on its key bets, including its AI efforts, according to an internal memo seen by Reuters today.
Intuit Layoffs 2026: QuickBooks and TurboTax Parent To Cut Jobs, Close Offices in AI Shift
Intuit plans to lay off more than 3,000 employees globally, nearly 17% of its workforce, as part of a restructuring focused on artificial intelligence. The company has reportedly partnered with OpenAI and Anthropic to integrate AI into its platforms, amid wider tech-sector job cuts linked to automation and efficiency drives. 📰 Intuit Layoffs 2026: QuickBooks and TurboTax Parent To Cut Jobs, Close Offices in AI Shift.
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