Intuit lays off 10% of staff to focus on AI

About 1,800 people were laid off, however the company plans on hiring about the same number of replacements.

Financial and fintech firm Intuit recently announced plans to lay off approximately 1,800 workers in order to further pursue the company’s artificial intelligence endeavors. 

This boils down to a restructuring of the company with approximately 10% of its workforce slated for departure. CEO Sasan Goodarzi reportedly told 1,050 of those being laid off, via email, that their performance did not meet expectations. Another 300 were told their positions had been eliminated.

The layoffs evidently weren’t related to the company’s bottom line. Per Goodarzi, “We do not do layoffs to cut costs, and that remains true in this case.” The CEO attributed the layoffs to a changing technological landscape and a pivot to further the company’s AI endeavors. 

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