Intuit Cuts 3,000 Jobs Amid AI Focus

Intuit, a global financial technology firm, is set to eliminate approximately 3,000 positions, representing 17% of its global workforce. This decision aligns with the company's strategy to concentrate on artificial intelligence and streamline operations, according to BeInCrypto. The layoffs coincide with Intuit's report of a 10% increase in third-quarter revenue, reaching $8.6 billion. Affected U.S. employees will depart by July 31, receiving severance packages. Intuit anticipates restructuring costs between $300 million and $340 million, primarily impacting the fiscal fourth quarter ending July 31, 2026. Despite the cuts, Intuit has raised its full-year revenue guidance to $21.34 billion to $21.37 billion, indicating growth of 13% to 14%.