Tax preparation company Intuit to lay off 1,800 as part of an AI-focused reorganization plan
The company behind QuickBooks and TurboTax said it was laying off 1,800 employees, but that it expects to hire at least that many in fiscal 2025 as it accelerates its focus on incorporating artificial intelligence into its products and services.
In an email to employees, CEO
Another 300 positions are being eliminated "to streamline work and reallocate resources toward key growth areas," the email said.
“The era of AI is one of the most significant technology shifts of our lifetime,” Goodarzi said in the opening of his email to staff. ”Companies that aren’t prepared to take advantage of this AI revolution will fall behind and, over time, will no longer exist.”
As for severance, Intuit said that all its laid off
In a regulatory filing, Intuit estimated the reorganization plan will incur between
Intuit shares fell 3.6% in morning trading to
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