Tax preparation and financial software company Intuit announced an AI-focused reorganization plan Wednesday that includes laying off about 10% of its workforce.
The company behind QuickBooks and TurboTax said it was laying off 1,800 employees, but that it expects to hire at least that many in fiscal 2025 as it accelerates its focus on incorporating artificial intelligence into its products and services.In an email to employees, CEO Sasan Goodarzi said more than 1,000 of the layoffs were employees that were not meeting the company's elevated expectations.
'The era of AI is one of the most significant technology shifts of our lifetime,' Goodarzi said in the opening of his email to staff. 'Companies that aren't prepared to take advantage of this AI revolution will fall behind and, over time, will no longer exist.' As for severance, Intuit said that all its laid off U.S.
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