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Intuit to cut about 1,800 jobs as it looks to increase AI investments

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Intuit to cut about 1,800 jobs as it looks to increase AI investments

TurboTax-parent Intuit said on Wednesday it will let go of about 1,800 employees, or 10% of its workforce, as it looks to focus on its AI-powered tax preparation software and other financial products.

The company, which has invested heavily in providing generative AI-powered accounting and tax preparation tools for small and medium businesses in the past few years, expects to close two of its sites in Edmonton, Canada, and Boise, Idaho.

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