AI & Enterprise
Intuit to cut 17 percent of full-time staff as growth slows
Tax and accounting software company Intuit will cut 17 percent of its full-time staff, CNBC reported on May 20. The restructuring will affect more than 3,000 people, and the company’s shares fell 11 percent in after-hours trading after the announcement. Intuit said the layoffs will result in charges of $300 million to $340 million, most of which will be recorded in the current quarter. CEO Sasan Goodarzi said the move aims to build growth drivers and create a faster-moving organization.
