Intuit Lays Off 10% as TurboTax-Maker Prioritizes AI

Intuit CEO Sasan Goodarzi told staff Wednesday that the company plans to lay off 1,800 employees, or roughly 10% of its workforce, as it looks to invest in new AI-powered services. Goodarzi said the move was not a cost-cutting measure, and that Intuit will replace the roles with new hires in areas such as engineering and sales. Intuit stock fell 2.6% following Intuit’s announcement. The move