Intuit announced it will cut roughly 3,000 jobs, about 17% of its workforce, to reallocate resources toward artificial‑intelligence features across TurboTax, QuickBooks and Credit Karma. CEO Sasan Goodarzi cited a need to simplify the corporate structure and reduce complexity. The memo reached employees this week, and the company listed 18,200 staff worldwide as of July 2025. The move signals a strategic shift.

The cuts arrive amid a broader tech‑sector contraction that has seen more than 100,000 positions eliminated this year. Firms from Amazon to Microsoft are trimming headcount while touting AI‑driven growth, and many have posted strong earnings. Intuit reported $4.65 billion in revenue for its fiscal second quarter, a 17% rise, and net profit of $693 million, up 48% year‑over‑year.

Intuit’s share price has lagged the S&P 500 over the past year, reflecting investor doubts that legacy SaaS firms can keep pace with AI‑centric rivals. Goodarzi’s total compensation for fiscal 2025 totals $36.8 million, underscoring the pressure to justify executive pay through rapid AI integration. The company expects roughly 10% revenue growth in the upcoming quarter, a target it must meet to restore market confidence.