Intuit is cutting 17% of its workforce—roughly 3,000 employees—in a restructuring that reflects Silicon Valley's current push toward AI. According to TechCrunch's reporting, CEO Sasan Goodarzi announced the cuts in an internal memo, saying the layoffs will "reduce complexity" and sharpen the company's focus on artificial intelligence.
The QuickBooks and TurboTax company had 18,200 employees as of July 2025. Goodarzi's stated aim is to simplify the corporate structure and shift resources toward AI products as investor pressure mounts over Intuit's competitive position in generative AI.
Meanwhile, Goodarzi's salary package totaled $36.8 million during fiscal 2025, including cash incentives and stock awards. The company did not respond to questions about whether leadership would accept a pay reduction.
Intuit joins a broader wave of tech layoffs. Amazon, Meta, Microsoft, Oracle, Cisco, Block, and Cloudflare have already cut thousands of workers in 2026, all citing AI strategy. The tech industry has eliminated over 100,000 jobs in 2026 alone.
The cuts contrast with strong financial performance. Intuit reported $4.65 billion in revenue (up 17%) and $693 million in net profit (up 48%) for Q2. Yet Intuit's shares have underperformed the S&P 500 over the past year, and Wall Street remains skeptical the company can compete in an AI-driven market.
