Intuit Aligns with Tech Layoff Trend, Cutting 3,000 Jobs as Part of AI Initiative: Exclusive Report by Reuters

Intuit, the parent company of TurboTax and QuickBooks, is set to lay off over 3,000 employees worldwide, which amounts to nearly 17% of its workforce. This decision aligns with a broader restructuring initiative aimed at enhancing its focus on artificial intelligence, as reported exclusively by Reuters.

The company communicated to its employees via an internal memo that these layoffs are intended to streamline operations and focus on key growth sectors, particularly AI-driven products and services. According to Reuters, Intuit has also entered into multi-year agreements with Anthropic and OpenAI to incorporate their AI models into its software suite.

As per the Reuters report, affected employees in the US will remain on the payroll until July 31 and will receive 16 weeks of base salary, along with an extra two weeks for every year of service at the company. Additionally, Intuit will be closing its Reno and Woodland Hills offices as part of its strategy to consolidate teams into primary operational centers.
As of July 2025, the company employed approximately 18,200 individuals across seven different countries. Following this announcement, Intuit’s shares dropped nearly 5% in morning trading.

This restructuring occurs amidst increasing disruptions in Silicon Valley, where numerous technology firms have associated workforce reductions with efficiency gains driven by AI.

Earlier today, it was reported that Meta intends to cut 8,000 jobs and reassign another 7,000 employees to AI-focused teams as part of a global restructuring effort, highlighting how the tech industry’s shift towards AI is transforming hiring practices, workplace morale, and organizational structures amidst over 110,000 layoffs in 2026. Companies like Block, Amazon, and Pinterest have also revealed job cuts this year.