Intuit cuts 17% of workforce after $8.6 billion quarter
Intuit said Wednesday it will cut approximately 17% of its full-time workforce as the Mountain View financial software giant restructures around artificial intelligence, mid-market growth and a broader effort to simplify its operations.
The cuts amount to about 3,000 jobs worldwide. Intuit had about 18,200 employees in seven countries as of July 31, 2025, according to its most recent annual report.
In a note to employees published by the company, CEO Sasan Goodarzi said Intuit must move with "far greater velocity, urgency, and discipline" across what it calls its three big bets: scaling its AI-native platform, becoming "the center of money" for consumers and businesses, and expanding its business serving mid-market companies and accounting firms.
"These changes are a necessary evolution to reduce complexity and architect an organization that operates with the velocity required to fuel our growth engines," he wrote. "We are fundamentally re-engineering our operating model to increase accountability, accelerate decision making, and ensure our execution is as bold as our strategy."
The company said the restructuring includes reducing layers of management, eliminating coordination-heavy roles, closing its Reno and Woodland Hills offices and reducing overlap between TurboTax and Credit Karma. Intuit also said it will reduce investments in some areas, including Mailchimp, while streamlining parts of its engineering and product organizations.
"These decisions are a reflection of our changing structure, not the individuals in these roles," Goodarzi wrote.
It was not immediately clear how many Bay Area employees, if any, will be affected. Intuit is headquartered in Mountain View. The company's statement said U.S. employees who are laid off will receive 16 weeks of base pay, plus two additional weeks for every year at Intuit, along with a paid transition period before their last day on July 31.
The announcement comes less than two years after Intuit said it would cut about 1,800 jobs, or roughly 10% of its workforce, while hiring in AI, product development and customer-facing roles. California filings at the time showed 384 affected employees at Intuit's Mountain View headquarters and 215 in San Diego.
Intuit, whose products include TurboTax, QuickBooks, Credit Karma and Mailchimp, has moved aggressively to expand its AI offerings.
In November, Intuit and OpenAI announced a multi-year partnership that includes Intuit app experiences inside ChatGPT and a $100 million-plus agreement to expand Intuit's use of OpenAI models. In February, Intuit and Anthropic announced a separate partnership to bring custom AI agents to midmarket businesses and surface Intuit tools inside Anthropic products.
Hours after announcing the layoffs, the company reported that quarterly revenue rose 10% to $8.6 billion, raised its full-year revenue forecast and said its board had approved a new $8 billion stock repurchase authorization. Intuit said it expects the restructuring to cost $300 million to $340 million, largely in its fiscal fourth quarter.
Copyright 2026 Tribune Content Agency. All Rights Reserved.