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Intuit is cutting roughly 3,000 jobs worldwide, representing about 17% of its global workforce, as the financial software company moves to streamline operations and deepen its focus on artificial intelligence, according to an internal memo sent to employees on Wednesday.
Chief Executive Sasan Goodarzi said the restructuring was intended to reduce complexity, improve efficiency and help the company deliver products faster as competition intensifies across the technology industry.
The company behind TurboTax, QuickBooks, Credit Karma and Mailchimp is also planning to close offices in Reno, Nevada, and Woodland Hills, California, as part of a wider strategy to consolidate teams in major operational hubs.
Shares of Intuit dropped nearly 5% during morning trading following reports of the layoffs, which arrived hours before the company was scheduled to release quarterly earnings results.
The move adds Intuit to a growing list of technology companies cutting jobs while increasing investments in AI systems. Firms across Silicon Valley have continued reshaping workforces this year as executives attempt to balance rising operational costs with pressure to develop AI-driven products and services.
Goodarzi said the company's long-term strategy includes integrating generative AI tools across its tax, accounting, marketing and personal finance platforms. Intuit has already entered partnerships with AI companies including OpenAI and Anthropic to support those efforts.
According to the memo, affected U.S. employees will remain on payroll through July 31. Workers will receive severance packages that include 16 weeks of base salary, along with an additional two weeks of pay for every year spent at the company.
Industry analysts say continued layoffs across the software sector reflect broader concerns about how AI automation may reshape hiring needs in coming years, even as companies insist the technology will create new opportunities alongside workforce reductions.
