Global financial technology firm Intuit will eliminate roughly 3,000 roles, about 17% of its global workforce.
The firm disclosed the cuts the same day it reported third-quarter revenue of $8.6 billion, up 10%.
The move comes as the firm seeks to focus on 3 key bets, including artificial intelligence and streamlining operations. Affected US staff will exit on July 31. They will receive 16 weeks of base pay, plus two weeks for each year of tenure.
“We have spent significant time evaluating how we focus the company with greater velocity and discipline to achieve what I outlined above. We believe we can serve more customers and deliver breakthrough products that fuel our customers’ success by reducing complexity and simplifying our structure to become a faster, leaner, and more focused company,” CEO Sasan Goodarzi said in the memo.
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The company flagged restructuring costs of about $300 million to $340 million, the bulk of which will be recognized in the fiscal fourth quarter, which closes July 31, 2026.
Intuit is also winding down offices in Reno, Nevada, and Woodland Hills, California. Despite the workforce reduction, Intuit raised its full-year revenue guidance to $21.34 billion to $21.37 billion, signaling 13% to 14% growth.
The Intuit announcement landed on the same day Meta cut roughly 8,000 jobs as part of its planned 10% workforce reduction.
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Standard Chartered, Block, Amazon, Dune, and Pinterest have all cited AI-driven efficiency in earlier rounds this year. According to Layoffs.fyi, more than 140 tech companies have shed over 111,000 roles in 2026.
The post Intuit Adds to Tech’s AI Layoff Tally, Cutting 17% of Workforce appeared first on BeInCrypto.
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