Intuit Adds to Tech’s AI Layoff Tally, Cutting 17% of Workforce
BeInCrypto
Financial technology firm Intuit is cutting 17% of its workforce, totaling approximately 3,000 employees, to streamline operations and focus on artificial intelligence.Summary
Intuit has announced the layoff of 3,000 employees, representing 17% of its global workforce, as part of a strategic shift to prioritize artificial intelligence and improve organizational efficiency. Despite these cuts and significant restructuring costs estimated between $300 million and $340 million, the company reported strong third-quarter revenue of $8.6 billion and raised its full-year guidance. This move follows a broader industry trend of tech companies, including Meta and Block, reducing staff to integrate AI-driven workflows.
(Source：BeInCrypto)