Intuit to lay off over 3,000 employees to refocus on AI - BERITAJA

Enterprise package elephantine Intuit is letting spell 17% of its staff, aliases about 3,000 people, arsenic it seeks to divert resources towards baking successful AI into its products, Reuters reported, citing an soul memo sent to employees.

The memo by CEO Sasan Goodarzi said the layoffs are meant to trim complexity by simplifying the company’s firm building and thief it attraction connected AI efforts, according to Reuters.

The company, which makes accounting, taxation and individual finance package for illustration TurboTax, QuickBooks, and Credit Karma, had 18,200 labor worldwide arsenic of July 2025, according to its annual report.

Intuit did not instantly return a petition for comment, aliases respond to questions about whether its management, directors, aliases its CEO would return a salary cut. Goodarzi’s salary was worthy $36.8 million, including rate incentives and banal awards, during fiscal 2025.

The layoffs travel during a bad twelvemonth for the tech workforce. The tech manufacture has already trim much than 100,000 jobs this year, per Statista, and is connected way to outpace some 2024 and 2025 if the layoff inclination continues.

Companies specified arsenic Amazon, Block, Cisco, Cloudflare, Meta, Microsoft and Oracle person fto spell of thousands of labor each, each echoing 1 different successful citing a request to refocus expenditures about AI projects arsenic a logic to trim jobs and restructure their organizations.

At the aforesaid time, each of these companies person precocious reported beardown revenues and profits, citing the evident beardown request for AI products, services, aliases the infrastructure to powerfulness AI. Nearly each these companies’ stock prices person risen, too, arsenic investors stake that AI will service arsenic a caller avenue of maturation for package companies everywhere.

Intuit, however, hasn’t been perceived arsenic a beneficiary of the AI boom, pinch its shares consistently underperforming the broader S&P 500 complete the past 12 months. The institution has been caught up successful the broader existent of worries that accepted software-as-a-service firms will not beryllium capable to support up aliases compete, arsenic caller and upcoming AI products and services frighten to some alteration really package is developed and really it is used.

In its fiscal 2nd 4th ended January, Intuit reported gross of $4.65 billion, a 17% increase, and nett profit of $693 million, a 48% betterment compared to a twelvemonth earlier.

The institution expects gross to summation by about 10% successful the 3rd quarter, for which it will study results later today.