Intuit to lay off thousands of employees, slash workforce by 17%

Tech giant Intuit is shuttering its Los Angeles-area office and slashing thousands of jobs worldwide in a sweeping shakeup that comes as Silicon Valley races to embrace artificial intelligence.

The company behind TurboTax, CreditKarma and QuickBooks is laying off roughly 3,000 employees — or about 17% of its global workforce — as part of a restructuring effort aimed at streamlining operations and sharpening its focus on AI, according to an internal memo obtained by Reuters.

The cuts will hit California directly.

Intuit confirmed in the memo that it is “winding down” its Woodland Hills office.

Another office in Reno, Nevada will also shutter, as it consolidates workers into what it described as “key hubs.”

The company employed around 18,200 workers across seven countries as of July 31, 2025, according to its annual report.

CEO Sasan Goodarzi told employees in an email Wednesday that the layoffs were intended to reduce “complexity” and simplify the company’s structure so it could deliver products faster and invest more heavily in major priorities — including artificial intelligence, Reuters reported.

Intuit has aggressively pushed into AI in recent years, signing deals with AI firms Anthropic and OpenAI to integrate their technology into products including TurboTax and QuickBooks.

The restructuring comes as fears grow across California’s tech industry over the impact AI could have on white-collar jobs.

The Intuit bloodbath comes amid a brutal stretch for California tech workers after LinkedIn revealed this week that more than 600 employees were also being laid off across the Golden State.

More than 111,000 workers at over 140 tech companies have already been laid off this year, according to data from Layoffs.fyi cited by Reuters.

The cuts landed the same day Meta began slashing thousands of jobs in another AI-driven shakeup at a Silicon Valley giant.

Some companies have openly acknowledged that AI-driven efficiency gains are reducing the need for certain positions.

The last day for affected US employees will be July 31, according to the memo. Workers impacted by the cuts will receive 16 weeks of base pay plus an additional two weeks for every year they worked at Intuit, Reuters reported.

The company’s stock fell nearly 5% in morning trading Wednesday following news of the layoffs.

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