The most recent trading session ended with Intuit (INTU) standing at $637.82, reflecting a -1.47% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.37% loss on the day. Elsewhere, the Dow lost 1.21%, while the tech-heavy Nasdaq lost 2.3%.The maker of TurboTax, QuickBooks and other accounting software's shares have seen a decrease of 1.9% over the last month, surpassing the Computer and Technology sector's loss of 2.84% and falling behind the S&P 500's gain of 1.11%.The inves ...

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Intuit is paying more than $555,000 in back wages to workers who missed overtime payments.The Labor Department said it hadn't kept accurate pay records and didn't pay workers for required training.This affected nearly 15% of its global workforce. The company this week announced 1,800 job cuts. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you' ...

Key TakeawaysIntuit will cut 10% of its employees, but then replace them with those who will focus on the company's artificial intelligence efforts.The maker of TurboTax and other financial software announced it will eliminate 1,800 positions and close sites in Boise, Idaho and Edmonton, Alberta.CEO Sasan Goodarzi said the company faced a critical moment in its history because of the impact of AI. Intuit (INTU) shares fell Wednesday after the accounting software maker announced that as part of a reorganizat ...

Tax preparation software maker Intuit is cutting 1,800 jobs, or 10% of its workforce, and closing two locations.The company, parent of QuickBooks and TurboTax, revealed the planned layoffs in a filing with the Securities and Exchange Commission Wednesday (July 10), saying it plans to “hire a nearly equivalent number of employees in fiscal 2025 to support [its] declared growth areas and expects overall headcount to grow.”In a note to employees included in the filing, CEO Sasan Goodarzi said the cuts come as ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Credit: Pixabay/CC0 Public Domain Tax preparation and financial software company Intuit announced an AI-focused reorganization plan Wednesday that includes laying off about 10% of its workforce. 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 ...

TurboTax parent Intuit said Wednesday it will let go of about 1,800 employees, or 10% of its workforce, as it looks to focus on its AI-powered tax preparation software and other financial products.The company, which has invested heavily in providing generative AI-powered accounting and tax preparation tools for small and medium businesses in the past few years, expects to close two of its sites in Edmonton, Canada, and Boise, Idaho.Intuit will rehire 1,800 new people primarily in engineering, product and cu ...

Intuit TodayINTUIntuit$650.70 -8.88 (-1.35%) 52-Week Range$447.01▼$676.62Dividend Yield0.55%P/E Ratio60.03Price Target$687.22Add to WatchlistIntuit NASDAQ: INTU is seated in the technology sector and specializes in providing tax and small-business accounting software. RBC Capital recently initiated coverage on the company, setting a price target of $760, implying a 15% upside from the current price. Lead analyst Rishi Jaluria believes the firm can monetize GenAI across its products. Let's take some time to ...

Intuit (INTU) closed at $657.21 in the latest trading session, marking a +0.89% move from the prior day. This change outpaced the S&P 500's 0.41% loss on the day. Meanwhile, the Dow experienced a drop of 0.12%, and the technology-dominated Nasdaq saw a decrease of 0.71%. Shares of the maker of TurboTax, QuickBooks and other accounting software have appreciated by 15.72% over the course of the past month, outperforming the Computer and Technology sector's gain of 6.52% and the S&P 500's gain of 3.53%. Invest ...