Intuit To Reportedly Lay Off 3,000 Employees As It Looks To Sharpen Focus On AI — CEO Cites Need To Streamline Operations Ahead Of Q3 Results

• The report added that Intuit will also wind down two of its U.S. offices as part of the restructuring program. The impacted locations are Reno, Nevada, and Woodland Hills, California.
• The move follows Intuit’s partnerships with Anthropic and OpenAI announced earlier in 2026 as part of its broader effort to integrate generative AI across products.
• The last day for affected U.S. employees at Intuit will be July 31, 2026, with severance including 16 weeks of base pay plus an additional two weeks for each year of service.

Intuit Inc. (INTC) will reportedly lay off about 3,000 employees, or about 17% of its global workforce, as the company looks to sharpen its focus on artificial intelligence.

According to a Reuters report, CEO Sasan Goodarzi said in an internal memo that Intuit is streamlining its structure and reducing complexity to improve execution and deliver better products to customers.

Intuit shares were down nearly 3% in Wednesday’s opening trade. INTU was among the top trending tickers on Stocktwits at the time of writing.

INTU To Wind Down Two Offices In US

The report added that Intuit will also wind down two of its U.S. offices as part of the restructuring program. The impacted locations are Reno, Nevada, and Woodland Hills, California.

The move follows Intuit’s partnerships with Anthropic and OpenAI announced earlier in 2026 as part of its broader effort to integrate generative AI across products, including TurboTax, QuickBooks, and Mailchimp.

The last day for Intuit’s impacted staff in the U.S. will be July 31, 2026. The company will give 16 weeks of base pay to staff being laid off, along with two weeks of extra pay for every year they have worked at Intuit, the report added.

E-commerce giant Amazon.com Inc. (AMZN) announced in January this year that it would lay off 16,000 employees in a bid to cut bureaucratic flab. Jack Dorsey announced in February that Block Inc. (XYZ) will lay off about 40% of its workforce, impacting around 4,000 employees.

Meta Platforms Inc. (META) also trimmed its workforce earlier on Wednesday, which impacted about 8,000 employees.

INTU Q3 Results Due Later Today

The layoff news comes ahead of Intuit’s third-quarter (Q3) results due today after the closing bell.

Intuit is expected to report earnings per share (EPS) of $12.57 on revenue of $8.54 billion, according to Fiscal.ai data.

Intuit reported an EPS of $11.65 on revenue of $7.75 billion during the same period a year ago.

How Did Retail Investors React To INTU?

Retail sentiment on Stocktwits around Intuit trended in the ‘extremely bullish’ territory with message volumes at ‘high’ levels at the time of writing.

One user believes that Intuit’s layoffs are aimed at the company’s middle management.

INTU stock is down 41% year-to-date and 42% over the past 12 months. The S&P 500 ETF (SPY) is up 25% over the past 12 months, while the Invesco QQQ Trust (QQQ) is up 36%.

The Vanguard S&P 500 ETF (VOO) is up 25% during this period, while the Vanguard Total Stock Market Index Fund ETF (VTI) is up 24%.

Also See: ASML CEO Reportedly Says Elon Musk's Terafab, Starlink Will Drive Huge Chip Demand — ‘One Of The Most Fascinating Projects For Me Is Starlink’

For updates and corrections, email newsroom[at]stocktwits[dot]com.