Intuit to cut about 3,000 jobs, 17% of workforce

Intuit will eliminate roughly 3,000 roles, about 17% of its global workforce. The company announced the reductions the same day it reported third-quarter revenue of $8.6 billion, a 10% increase year over year.

U.S.-based employees affected by the cuts are scheduled to exit on July 31. Those workers will receive 16 weeks of base pay plus an additional two weeks for each year of tenure. The company did not provide a breakdown of cuts by function or by country beyond the U.S. exit date and severance terms.

In an internal memo, CEO Sasan Goodarzi wrote that leadership spent significant time deciding how to concentrate resources with greater velocity and discipline. He wrote the company intends to reduce complexity and simplify its structure to become faster and more focused. Intuit said the reorganization centers on three strategic priorities, including investments in artificial intelligence and efforts to simplify operations.

Intuit flagged restructuring costs of about $300 million to $340 million, most of which will be recorded in the fiscal fourth quarter ending July 31, 2026. The company also said it will wind down offices in Reno, Nevada, and Woodland Hills, California.

Despite the one-time charges and workforce reduction, Intuit raised its full-year revenue guidance to between $21.34 billion and $21.37 billion, implying 13% to 14% growth.

The announcement came on the same day Meta disclosed cuts of roughly 8,000 roles as part of a planned 10% workforce reduction. Other companies this year, including Standard Chartered, Block, Amazon, Dune and Pinterest, have cited efficiency gains from artificial intelligence in workforce decisions. Public tallies show more than 140 technology companies have eliminated over 111,000 positions so far in 2026.

Sen. Bernie Sanders wrote on social media that firms were replacing workers with AI and raised questions about the effects of automation on American workers.