• Intuit (INTU) is cutting roughly 1,800 jobs, about 10% of its global workforce, as part of a strategic shift toward AI-focused products.
  • The company plans to hire 1,800 new employees in engineering, product, and sales roles tied to AI initiatives.
  • The layoffs affect two sites in Boise, Idaho, and Edmonton, Canada, which will be closed.

Intuit, the software company behind TurboTax, QuickBooks, and Credit Karma, announced a significant workforce reduction of about 1,800 employees—roughly 10% of its global workforce—according to a company memo. The move is framed as a structural rebalancing to align headcount with AI-driven priorities, rather than a traditional cost-cutting exercise. CEO Sasan Goodarzi described the layoffs as a “rationalization” and “course correction” to focus on AI-centric products and services.

The company, which reported strong recent revenue growth of 16% for fiscal 2025 and 20% in the fourth quarter, is simultaneously vowing to hire 1,800 new workers, primarily in AI engineering, product development, and sales. This “trade-in” of the workforce’s skill mix reflects a broader tech-sector trend of AI-driven restructuring, where firms cut legacy roles while expanding AI teams.

One person familiar with the matter said the layoffs hit engineering, operations, and support roles, with two sites in Boise, Idaho, and Edmonton, Canada, set to close. Intuit will consolidate some operations and relocate roles to other locations while opening new hubs to support its AI portfolio.

The announcement has sparked debate on social media and in tech-labor circles, with critics questioning the optics of cutting staff while emphasizing AI growth. Meanwhile, investors have reacted with mixed stock price movements, though many see the move as a signal of Intuit’s commitment to AI-led growth.

Intuit’s pivot comes amid intensifying competition in financial software and fintech, where AI-powered tax advice, automated bookkeeping, and personalized lending are becoming key differentiators. The company also faces ongoing regulatory scrutiny over fees, data privacy, and the “free file” debate with the IRS, which could influence its investment in AI-enabled tax tools.

This is not Intuit’s first restructuring; the company has a history of periodic layoffs and site closures coinciding with product portfolio shifts, such as toward cloud-based QuickBooks and mobile-first tax tools. Parallel AI-driven restructurings are underway at other large software firms, including Microsoft (MSFT), Google (GOOGL), and Salesforce (CRM), all of which have announced role reductions coupled with AI-related hiring.

Correction: An earlier version of this article misstated the percentage of job cuts as 17%. The correct figure is about 10%.