Tech
May 20, 2026
Intuit to Lay Off 3,000 Employees to Focus on AI
Intuit is laying off 3,000 employees, or 17% of its staff, to refocus on AI and simplify its corpor…
The Layoff Announcement
Enterprise software giant Intuit is letting 17% of its staff go, or about 3,000 people, as it seeks to divert resources toward baking AI into its products. The layoffs are meant to reduce complexity by simplifying the company’s corporate structure and help it focus on AI efforts.
Intuit's AI Strategy
The company, which makes accounting, tax, and personal finance software like TurboTax, QuickBooks, and Credit Karma, had 18,200 employees worldwide as of July 2025. Intuit's CEO Sasan Goodarzi said the layoffs will help the company focus on AI efforts.
The Financial Impact
Intuit's CEO Sasan Goodarzi's salary was worth $36.8 million in fiscal 2025.
The company reported revenue of $4.65 billion in its fiscal second quarter, a 17% increase.
Intuit expects revenue to increase by about 10% in the third quarter.
The Industry Trend
The layoffs come during a bad year for the tech workforce, with over 100,000 jobs cut this year. Companies like Amazon, Block, Cisco, Cloudflare, Meta, Microsoft, and Oracle have also let go of thousands of employees, citing a need to refocus expenditures around AI projects.
The Future Outlook
Despite the layoffs, Intuit has reported strong revenue and profit, and its shares have risen as investors bet on AI as a new avenue of growth. However, Intuit's shares have consistently underperformed in the broader S&P; 500 over the past 12 months.
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