Business

Intuit's Workforce Cut and AI Impact on Software Industry

Updated 2026-05-20 20:20 UTC 1 source Negative

Intuit plans to reduce its workforce by about 17% amid concerns over slowing growth and the potential threat from generative artificial intelligence models. The move reflects broader industry challenges.

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CNBC

Intuit plans to cut workforce by about 17% as tax software maker reckons with slowing growth

Intuit's stock has been hammered this year as investors worry that generative artificial intelligence models could threaten software companies.

2026-05-20 20:12 UTC