Despite the action, Intuit expects to grow headcount in fiscal 2025, which begins on August 1.

Intuit CEO Sasan Goodarzi says the company is reallocating resources to ramp up for the need to invest in AI.“We do not do layoffs to cut costs, and that remains true in this case,” he wrote to all employees on July 10. The communication was filed with the SEC.

Intuit is also consolidating 80 technology roles to that’s that are being grown including Atlanta, Bangalore, New York, Tel Aviv, and Toronto. Concurrently, sites in Edmonton, Alb, and Boise, Idaho, where more than 250 employees work, are being closed. Some employees will be relocated.

A majority of those employees impacted, about 1,050 are those who are not meeting company expectations with Intuit having “raised the bar on our expectations of employee performance,” Goodarzi wrote.

significantly raised the bar on our expectations of employee performance, resulting in approximately 1,050 employees leaving the company who are not meeting expectations and who we believe will be more successful outside of Intuit. The job cuts also include the elimination of more than 300 roles.

Bob Scott

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Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind