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Business
May 20, 2026
Analyzed by Llama- 4 Scout 17B 16E Instruct

Intuit to Lay Off 3,000 Employees to Focus on AI

AI Summary
Intuit is laying off 3,000 employees, or 17% of its staff, to refocus on AI and simplify its corporate structure. The company, which makes accounting, tax, and personal finance software, had 18,200 employees worldwide as of July 2025.

The Restructuring Plan

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.

The Company'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, including cash incentives and stock awards, during fiscal 2025.
  • The company reported revenue of $4.65 billion, a 17% increase, and net profit of $693 million, a 48% improvement compared to a year earlier.

The Industry Trend

The layoffs come during a bad year for the tech workforce. The tech industry has already cut more than 100,000 jobs this year, and is on track to outpace both 2024 and 2025 if the layoff trend continues. Companies such as Amazon, Block, Cisco, Cloudflare, Meta, Microsoft, and Oracle have let go of thousands of employees each, all of them citing a need to refocus expenditures around AI projects as a reason to cut jobs and restructure their organizations.

The Future Outlook

Intuit, however, hasn’t been perceived as a beneficiary of the AI boom, with its shares consistently underperforming in the broader S&P 500 over the past 12 months. The company expects revenue to increase by about 10% in the third quarter.