We do not do layoffs to cut costs, and that remains true in this case... about reinvesting in the necessary strategic functional capabilities and skill sets to support Intuit's transformation.
CEO stated underperforming employees will be 'more successful outside of Intuit'... significantly raised the bar on our expectations of employee performance.
Company focused on expanding generative AI efforts and international growth, eliminating 300 roles to 'streamline work'.
Intuit plans to hire 1,800 individuals, expecting overall health to grow... a pivot to reset and enable company growth.
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