Business and financial software company Intuit Inc. today announced that it’s laying off 1,800 employees, about 10% of its workforce, as it looks to focus more on artificial intelligence — but it plans to rehire 1,800 new people in engineering, product and customer-facing roles. In a note to employees, Intuit Chief Executive Officer Sasan Goodarzi said that the decision to lay off 1,800 from the company’s workforce was extremely painful and that the company deeply understands the impact of the decision on “friends and colleagues who will be leaving.” Goodarzi noted that the decision to lay off staff was not the result of any desire to cut costs but to free up funds to allocate additional investments in critical areas in support of customers and drive growth. This includes hiring approximately 1,800 new people, primarily in engineering, product and customer-facing roles such as sales, customer success, and marketing. Exactly when the new positions will be hired was not specified. Goodarzi did, however, say that Intuit expects its overall headcount to grow starting from the company’s 2025 fiscal year, which starts Aug 1. The savings from the layoffs will also be used to make further investments in what Intuit calls its “Big Bets.” Big Bet 1, “Revolutionize Speed to Benefit,” involves Intuit’s generative AI-powered financial assistant, Intuit Assist, combined with its network of experts, enabling seamless “done-for-you” experiences with access to human expertise. To deliver this, Intuit plans to invest heavily in data and AI, leveraging “GenOS” to transform its products from traditional workflows to AI-native experiences that save time and increase customer savings.
Full report : Intuit to lay off 1,800 employees as part of an AI-focused reorganization plan.
