Intuit to cut 17% of global jobs to streamline operations, memo shows: Reuters exclusive

Two fans take a selfie outside the Intuit Dome, the new home of the Los Angeles Clippers in Inglewood, Calif. (AP Photo/Jae C. Hong)

Intuit is laying off about 17 per cent of its workforce, or about 3,000 employees worldwide, to streamline operations and sharpen focus on its key bets including its AI efforts, according to an internal memo seen by Reuters on Wednesday.

CEO Sasan Goodarzi sent an email to staff earlier in the day, saying that reducing complexity and simplifying the structure would help it deliver better products, according to the memo and a source familiar with the matter.

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Intuit, which is scheduled to report third-quarter results later on Wednesday, did not immediately return a request for comment. Its shares were down nearly five per cent in morning trading.

It joins a growing list of companies that have announced job cuts this year, with some blaming the layoffs on higher efficiencies brought on by AI, including Jack Dorsey’s Block, Amazon and Pinterest.

Goodarzi said in his email the layoffs would help Intuit sharpen its focus on the company’s big bets, including efforts to infuse AI technology across its services.

The company has signed multi-year deals with AI startups Anthropic and OpenAI to integrate their AI models into its software, and add Intuit’s personalized tax, finance, accounting and marketing capabilities into Claude and ChatGPT.

The last day for impacted staff in the United States will be July 31 and they will receive 16 weeks of base pay and two extra weeks for every year at Intuit as part of the severance package, the memo on Wednesday showed.

The company is also winding down its Reno and Woodland Hills offices as part of a strategic restructuring to consolidate teams in key hubs, according to the memo.

Intuit had about 18,200 employees in seven countries as of July 31, 2025, according to the company’s annual report.

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Silicon Valley employees have grown increasingly concerned about AI disruption in recent months after over 140 tech companies laid off more than 111,000 employees this year, according to Layoffs.fyi, a website tracking sector wide job cuts. The figure was around 124,636 for 2025.

At the World Economic Forum’s annual meeting in January, two executives told Reuters that AI would be used as an excuse by companies that were already planning layoffs.

(Reporting by Rashika Singh and Jaspreet Singh in Bengaluru; Editing by Sweta Singh and Pooja Desai)