Intuit Adds to Tech’s AI Layoff Tally, Cutting 17% of Workforce
Global monetary know-how agency Intuit will remove roughly 3,000 roles, about 17% of its world workforce.
The agency disclosed the cuts the identical day it reported third-quarter income of $8.6 billion, up 10%.
Intuit Joins The AI Layoff Wave
According to the memo seen by Reuters, the transfer comes as the firm seeks to focus on synthetic intelligence bets and streamline operations. Affected US workers will exit on July 31. They will obtain 16 weeks of base pay, plus two weeks for annually of tenure.
“The firm additionally introduced it’s decreasing its full-time workforce by 17 p.c to simplify its organizational construction and turn out to be a quicker, leaner, extra centered firm,” Intuit said in a press launch.
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The firm flagged restructuring prices of about $300 million to $340 million, the majority of which might be acknowledged within the fiscal fourth quarter, which closes July 31, 2026.
Intuit can also be winding down places of work in Reno, Nevada, and Woodland Hills, California. Despite the workforce discount, Intuit raised its full-year income steering to $21.34 billion to $21.37 billion, signaling 13% to 14% progress.
The Intuit announcement landed on the same day Meta minimize roughly 8,000 jobs as half of its deliberate 10% workforce discount.
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Standard Chartered, Block, Amazon, Dune, and Pinterest have all cited AI-driven effectivity in earlier rounds this 12 months. According to Layoffs.fyi, greater than 140 tech corporations have shed over 111,000 roles in 2026.
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