Intuit Slashes Jobs, But Plans to Rehire as Company Shifts Focus to AI
INTUIntuit(INTU) Investopedia·2024-07-11 04:02

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 ...