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Intuit Lays Off 1,800 Employees to Refocus on AI and Growth

The financial software giant plans to replace laid-off workers with new hires in AI and other critical areas.

Intuit Offices Parking
Intuit TurboTax packages are seen on display in a Costco Warehouse, Jan. 26, 2023, in Pittsburgh. Tax preparation and financial software company Intuit announced an AI-focused reorganization plan Wednesday, July 10, 2024, that includes laying off about 10% of its workforce. (AP Photo/Gene J. Puskar, File)
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Overview

  • Intuit will cut 10% of its workforce, affecting 1,800 employees globally.
  • The layoffs include 1,050 performance-based terminations and 300 roles eliminated for streamlining.
  • Offices in Edmonton, Canada, and Boise, Idaho, will be closed, impacting over 250 employees.
  • The company plans to hire 1,800 new staff in engineering, product, and customer-facing roles.
  • Intuit expects to incur up to $260 million in costs related to the layoffs and reorganization.