California Tech Giant Intuit to Lay Off 10 Percent of Workforce in Shift to AI

California-based financial software provider Intuit has announced plans to fire 1,800 employees, or roughly 10 percent of its workforce, and bring in new recruits beginning next financial year, in a shakeup designed to further its AI-focused reorganization plan.

The move is part of the tech giant’s push to “reallocate resources to key growth areas,” specifically incorporating artificial intelligence (AI) into its products and services, according to a July 10 regulatory filing by the multinational company, which offers software products including QuickBooks, ProConnect, TurboTax, and more.

In a July 10 blog post on the company’s website, Intuit CEO Sasan Goodarzi told employees that offices in Boise, Idaho, and Edmonton, Canada, will close, although some workers from those offices will transfer to new locations.

Mr. Goodarzi said more than 1,050 employees are being laid off for not meeting the company’s expectations, while 300 positions are being eliminated “to streamline work,” as the company looks to consolidate about 80 tech jobs to Atlanta; Bangalore, India; New York; Tel Aviv, Israel; and Toronto.

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