Intuit to put off over 3,000 staff to refocus on AI

Enterprise software program big Intuit is letting 17% of its workers go, or about 3,000 individuals, because it seeks to divert sources towards baking AI into its merchandise, Reuters reported, citing an inside memo despatched to staff.

The memo by CEO Sasan Goodarzi mentioned the layoffs are supposed to scale back complexity by simplifying the corporate’s company construction and assist it concentrate on AI efforts, in response to Reuters.

The corporate, which makes accounting, tax, and private finance software program like TurboTax, QuickBooks, and Credit score Karma, had 18,200 staff worldwide as of July 2025, in response to its annual report.

Intuit didn’t instantly return a request for remark, or reply to questions on whether or not its administration, administrators, or its CEO would take a pay lower. Goodarzi’s salary was price $36.8 million, together with money incentives and inventory awards, throughout fiscal 2025.

The layoffs come throughout a nasty yr for the tech workforce. The tech trade has already lower greater than 100,000 jobs this yr, per Statista, and is on monitor to outpace each 2024 and 2025 if the layoff pattern continues.

Firms comparable to Amazon, Block, Cisco, Cloudflare, Meta, Microsoft, and Oracle have let go of hundreds of staff every, all of them citing a have to refocus expenditures round AI tasks as a motive to chop jobs and restructure their organizations.

On the identical time, all of those corporations have lately reported sturdy income and revenue, citing the obvious sturdy demand for AI merchandise, providers, or the infrastructure to energy AI. Practically all these corporations’ share costs have risen, too, as traders guess that AI will function a brand new avenue of progress for software program corporations in every single place.

Intuit, nevertheless, hasn’t been perceived as a beneficiary of the AI increase, with its shares constantly underperforming within the broader S&P 500 over the previous 12 months. The corporate has been caught up within the broader current of worries that conventional software-as-a-service corporations will be unable to maintain up or compete, as new and upcoming AI services threaten to alter how software program is developed and the way it’s used.

In its fiscal second quarter ended January, Intuit reported income of $4.65 billion, a 17% enhance, and web revenue of $693 million, a 48% enchancment in comparison with a yr earlier.

The corporate expects income to extend by about 10% within the third quarter, for which it’s going to report outcomes later as we speak.