Intuit to lay off over 3,000 employees to refocus on AI | TechCrunch

Intuit is reducing its workforce by about 17%, or roughly 3,000 employees, to shift resources toward building AI into its products. The CEO memo states the layoffs aim to reduce complexity by simplifying the corporate structure and to help the company focus on AI efforts. Intuit makes accounting, tax, and personal finance software including TurboTax, QuickBooks, and Credit Karma, and it reported 18,200 employees worldwide as of July 2025. The company did not immediately respond to questions about comments or whether executives would take pay cuts. The layoffs occur amid broader tech job cuts exceeding 100,000 this year, with many firms citing AI-focused spending changes despite strong financial results and rising share prices.

"Intuit is letting go 17% of its staff, or about 3,000 people, as it seeks to divert resources towards baking in AI into its products, Reuters reported, citing an internal memo sent to employees. The memo by CEO Sasan Goodarzi said the layoffs are meant to reduce complexity by simplifying the company's corporate structure and help it focus on AI efforts, according to Reuters."

"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, according to its annual report. Intuit did not immediately return a request for comment, or respond to questions about whether its management, directors, or its CEO would take a pay cut. Goodarzi's salary was worth $36.8 million, including cash incentives and stock awards, during fiscal 2025."

"The layoffs come during a bad year for the tech workforce. The tech industry has already cut more than 100,000 jobs this year, per Statista, 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 echoing one other in citing a need to refocus expenditures around AI projects as a reason to cut jobs and restructure their organizations."

"At the same time, all of these companies have recently reported strong revenues and profits, citing the apparent strong demand for AI products, services, or the infrastructure to power AI. Nearly all these companies' share prices have risen, too, as investors bet that AI will serve as a new avenue of growth for software companies everywhere. Intuit, however, hasn't been perceived as a beneficiary of the AI boom, with its shares consistently underperforming the broader S&P 500 over the past 12 months."

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