Intuit Lays Off 3,000 Employees to Focus on AI Strategy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 20 2026
0mins
Source: Newsfilter
- Layoff Scale: Intuit is laying off approximately 17% of its workforce, equating to about 3,000 employees, to streamline operations and sharpen focus on key areas like AI, indicating the company's strategic response to market challenges.
- CEO Statement: CEO Sasan Goodarzi emphasized in an internal memo that reducing complexity and simplifying the structure would help deliver better products, reflecting the company's commitment to enhancing operational efficiency.
- AI Investment: Intuit has signed multi-year agreements with AI startups Anthropic and OpenAI to integrate their AI models into its software, enhancing personalized tax, finance, and accounting services, showcasing the company's focus on AI technology.
- Layoff Compensation: Affected employees in the U.S. will have their last working day on July 31, receiving 16 weeks of base pay plus an additional two weeks for each year of service, demonstrating the company's sense of responsibility towards its workforce.
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Analyst Views on INTU
Wall Street analysts forecast INTU stock price to rise
18 Analyst Rating
16 Buy
2 Hold
0 Sell
Strong Buy
Current: 313.000
Low
700.00
Averages
814.59
High
880.00
Current: 313.000
Low
700.00
Averages
814.59
High
880.00
About INTU
Intuit Inc. offers a financial technology platform that helps consumers and small and mid-market businesses prosper by delivering financial management, compliance, and marketing products and services. It also provides specialized tax products to accounting professionals. It helps small and mid-market businesses grow and run their business all in one place, including bookkeeping, getting paid, accessing capital, paying employees, getting and retaining customers, and managing their customer relationships. The Company's offerings include TTurboTax, Credit Karma, QuickBooks, Mailchimp, and Intuit Enterprise Suite. Lacerte, ProSeries, and ProConnect Tax Online are its tax preparation offerings for professional accountants. Its financial management includes payments and capital, compliance, human capital management, and marketing products and services. For accounting professionals, the Company provides professional tax and financial management products and services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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