Intuit Lays Off 1,800 Workers to Pivot Toward Artificial Intelligence
Intuit is cutting 10% of its global workforce and closing two office sites to reallocate resources toward AI-driven products. The company plans to hire an equal number of new employees with specialized skills to support this strategic shift.
Intuit announces that 1,800 employees, which represents 10% of its global workforce, will leave the company as part of a major strategic shift. CEO Sasan Goodarzi shares in an internal email that this move is not a cost-cutting measure but rather a deliberate step to prioritize investments in artificial intelligence and generative AI. The financial software company aims to transition its traditional products into AI-native experiences, with a specific focus on its GenAI-powered financial assistant called Intuit Assist.
Despite the significant reduction in staff, Intuit plans to hire approximately 1,800 new employees with specialized skills in engineering, product, sales, and marketing. The company expects its overall headcount to grow during its fiscal year 2025. Of the departing workers, 1,050 leave due to a formal performance management process, while another 300-plus roles are eliminated to streamline operations and redirect resources toward key growth areas like mid-market expansion and international growth.
The restructuring also involves a 10% reduction in executive roles and the consolidation of 80 technology positions to growing hub cities like Atlanta, Bangalore, and Toronto. Additionally, Intuit closes its sites in Edmonton and Boise, prompting over 250 affected employees to either relocate or depart. All leaving U.S. workers receive a severance package that includes a minimum of 16 weeks of pay, plus two extra weeks for every year of service, with their official last day set for September 9.