July 13, 2024

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Intuit to cut about 1,800 jobs as it ramps up AI investments

Intuit to cut about 1,800 jobs as it ramps up AI investments

TurboTax parent Intuit said Wednesday it will lay off about 1,800 employees, or 10% of its workforce, as it looks to focus on its artificial intelligence-powered tax preparation software and other financial products.

The company, which has invested heavily in providing AI-powered accounting and tax preparation tools to small and medium-sized businesses in recent years, expects to close two of its locations in Edmonton, Canada, and Boise, Idaho.

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