Intuit to Cut 10% of Employees in Latest Round of Tech Layoffs

"About 10% of the global workforce will be affected ... the move is not meant to cut costs and that the company expects to re-hire the same number of employees,"

Sounds like Sasan is copying Elons approach to management

fairly sure the Lean Startup book is based on intuit, which is funny given that rather than a product company, they are a lobbying organization so distasteful that even a country generally tolerant of distasteful lobbying finally succeeded in passing them like a kidney stone

> Intuit Inc. is cutting 1,800 employees, the company said Wednesday, marking another major jobs cull in tech.

> About 10% of the global workforce will be affected, Chief Executive Officer Sasan Goodarzi said in a letter to employees. He said the move is not meant to cut costs and that the company expects to re-hire the same number of employees, primarily in its engineering, product and sales divisions.

> Shares of the software company fell 1.6% in premarket trading on the news.

https://www.intuit.com/blog/news-social/investing-in-our-fut...

Here's to hoping the current talent bleed doesn't affect on the Argo Workflows/Events/CD or Numa Projects.

If free e-filing is successful, I imagine layoffs there would be inevitable.

Please cut your lobby-the-congress force so we can have good tax software for free in America -- signed, everyone

In the mean time Intuit raised the prices of QuickBooks desktop "subscription" about $100 :( to $694.43 (yes, to the penny).

One of the two subheadings on the Bloomberg story (which is paywalled):

> About 1,050 of the employees were dismissed due to performance

Was Intuit putting out that message, or Bloomberg?

To the newly unemployed, seems like defamation will make the job search harder.

This isn't a "layoff", these are dismissals/firings.

- employees are being targeted for performance reasons ("not meeting expectations")

- stated reason is "not meant to cut costs"

AI is the last thing you want involved in accounting. Book-keeping and tax preparation are exercises in precision at a very high level of semantic knowledge. You have to understand why money flows through a company. These are skills the chatbots are proven incapable of demonstrating. Moreover, the parts that can and should be automated already have been for the last 15 or so years, with automatic transaction importing and prefiltering tools (none of which used chatbots).

The average business owner is usually overwhelmed with the backend of running a business by the time they come to me. If a client told me they used accounting software with AI features, the first thing I'd do is fully audit their books and review any filings done using chatbot-affected records.

Outsourcing bookkeeping services in India lowers costs, increases accuracy, and improves financial management.

Intuit really needs to be adobe’d. they are very anti customer!

Damn inflation - it used to be 6-7% didn't it?!