'Very difficult decision' | Financial software firm Intuit to cut 1,800 jobs as focus shifts to AI

Intuit has announced it will be parting ways with approximately 1,800 global employees—about 10% of its workforce. However, the company, which specializes in financial software, insisted that the move is not aimed at cost-cutting.

CEO Sasan Goodarzi, in an internal email obtained by Fortune, announced these "very difficult decisions" as part of Intuit's strategic transformation. This includes investing more heavily in AI and generative AI, such as their GenAI-powered financial assistant, Intuit Assist, and reimagining their products to be AI-native.

Other strategic focuses include enhancing money movement capabilities, expanding services for small businesses, and pursuing international growth.

"We do not do layoffs to cut costs, and that remains true in this case," said Goodarzi.