Intuit said on Wednesday it will lay off 17% of its workforce, or about 3,000 employees, as the Mountain View-based company overhauls its structure, trims costs and pours more money into artificial intelligence. The maker of Turbotax, QuickBooks, Credit Karma and Mailchimp also said it will close its offices in Reno and Woodland Hills.
The layoffs came the same day Intuit reported third-quarter revenue of $8.56 billion, up 10% from a year earlier. The company said it expects restructuring charges of between $300 million and $340 million as it works to simplify an organization that it said had slowed under too many layers.
Chief Executive Sasan Goodarzi said the company can serve more customers and deliver breakthrough products by reducing complexity and simplifying its structure. Intuit said the cuts are meant to make it faster, leaner and more focused. The company also said the restructuring will reduce overlapping roles in Turbotax and Credit Karma as it combines those businesses into a single team.
The move comes as tax software makers face sharper competition for AI-driven products and as tech employers keep trimming headcount. Intuit said its accounting AI agents are already powering recommendations across more than 50 million transactions each week, while its business tax AI agents are identifying millions of dollars in deductions.
That framing leaves one point unresolved: Intuit says AI is central to its future, but it also insists the layoffs were not caused by machines replacing workers. Chief Financial Officer Sandeep Aujla said on an earnings call that the cuts were meant to make the organization leaner and were not tied directly to AI use, and a company spokesperson said the decisions were not driven by AI replacing employees. The distinction matters because the broader tech sector has already shed more than 114,000 jobs this year, according to Layoffs.fyi, as companies including Meta and Coinbase continue to cut staff while adjusting to AI and cost pressure.
