Intuit, the maker of TurboTax, QuickBooks, and Credit Karma, is laying off about 3,000 employees—roughly 17 per cent of its global workforce. Sasan Goodarzi, CEO, told staff in a memo that the move is meant to simplify the company’s structure and redirect resources toward artificial intelligence (AI).
This is not the first cut. In July of 2024, Intuit had announced its intentions to let go of 1,800 workers, about 10 per cent of its staff, as part of a restructuring exercise.
At the time, Goodarzi had explained in a letter to the staff that Intuit wants to build AI native products, including its GenAI powered financial assistant, Intuit Assist. It was also conveyed that the company was trying to focus on faster money movement, expanding services for mid market businesses, and international growth.
The company had around 18,200 employees worldwide as of July 2025.
The current layoffs come during a tough year for tech workers. More than 1,00,000 jobs have already been cut across the industry in 2026, with many companies citing AI investment as the reason.
Interestingly, most firms making cuts have reported strong profits and rising share prices, as investors bet on AI as the next growth engine.
Intuit, however, has not enjoyed the same investor confidence. Its shares have reportedly underperformed compared to the broader S&P?500, raising doubts about whether traditional software firms can keep pace with AI driven competitors. It is pertinent to mention that it hasn’t been long since Intuit entered into agreements with OpenAI and Anthropic to insert AI models into its software ecosystem and incorporate its accounting and marketing capabilities into ChatGPT and Claude.