Sacramento, California – Intuit, the financial software company, is set to cut approximately 10% of its workforce, affecting around 1,800 employees as part of the latest round of tech layoffs. This decision comes as Intuit plans to restructure and invest in key areas of the business, including artificial intelligence (AI) technologies.
The layoffs, which will primarily impact Intuit’s locations across the United States, are part of a broader strategic shift as the company looks to realign its resources towards more innovative and profitable ventures. The move towards AI investment is seen as a way to stay competitive in the rapidly evolving tech industry.
As Intuit prepares to lay off employees, it also plans to rehire in specific areas where the company sees potential for growth and development. This strategic approach aims to streamline operations while ensuring that Intuit remains at the forefront of technological advancements.
The decision to cut jobs amidst a shuffle in locations and increased AI investment reflects Intuit’s commitment to adapting to the changing landscape of the financial software industry. This move underscores the company’s focus on leveraging AI technologies to drive innovation and improve customer experiences.
Intuit’s efforts to reduce its workforce while simultaneously investing in AI capabilities highlight the company’s dedication to remaining a leader in the financial software sector. By making strategic decisions to optimize operations and drive growth, Intuit is positioning itself for long-term success in a competitive market.