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Intuit to lay off over 3k employees to refocus on AI

Intuit to lay off over 3k employees to refocus on AI

wapasta

Comments (180)

  • xwowsersx
    Why are other outlets quoting the CEO as having said that the layoffs have "nothing to do with AI"? Is TC distinguishing between using AI versus building AI products?> "None of it had to do with AI," Goodarzi told CNBC's Jim Cramer on "Mad Money." "Everything was about how do we become more effective."https://www.cnbc.com/2026/05/20/intuit-ceo-says-companys-17p...
  • mactavish88
    The absolute last thing I want in the filing of my taxes is non-determinism.
  • HoldOnAMinute
    I'm a happy TurboTax customer for over 25 years. The standard workflow of TurboTax hasn't changed much. You go through a work flow filling out forms. I don't use any of the OCR and little of the importing. I'm happy to type in numbers from forms myself.So normally I wouldn't have any use for AI, but they added it anyway.This year I asked it a couple of "Why" and "What If" questions, and it was actually useful.If it stays at arm's length, and if it can "read only", then I am OK with it and actually somewhat pleased with it.
  • dtnewman
    1) this article doesn't really cite that this is due to AI. It cites a reuters article which in turn cites an internal memo, which says that they need to be focused, with AI being an important initiative. So the title is a bit misleading.2) A lot of comments here talking about turbotax. Remember that intuit also has quickbooks. Personally, i think the uses for AI in doing my taxes are limited. I don't want AI making judgement calls. However, for something like quickbooks, I can imagine many uses for AI. For example, categorizing expenses, organizing receipts, noticing odd patterns, etc.
  • bni
    As a European I don't understand why this company exists at all.
  • irjustin
    I used to be a pretty happy TurboTax user due to all the automatic handlers/connectors.This year I leaned fully into LLMs and had Claude build everything from scratch then used the Gemini & Chatgpt to check. While it took time to get all the marking just right, it was, relatively speaking, pretty easy since I downloaded the previous years to start as the basis which allowed for multi-year customization and back testing.Guess I'm not using Turbotax anymore.
  • nickfromseattle
    In the long term Intuit is probably a $0 because you don't need TurboTax to file a UBI report.
  • clearstack
    whatever the framing, Intuit runs ~80% gross margins. these cuts arent about saving money — its about shifting R&D to AI before TurboTax's moat erodes from the bottom up
  • jimcollinswort1
    This was the last year for me and my wife to use Turbo Tax, it's been ok for 15 years but I know AI will do it all for us next year, for free. Gemini was very helpful with questions and some skills building this year, I should have tried more.N ext year I'll basically feed in my W2, 1099s, fidelity forms, insurance, maybe 20-30 documents, and ask for my completed 1040 and related forms. The LLMs already have the data extraction capability, vast tax knowlege, large enough context for personal taxes. We don't need another year to make tax software obsolete.Actually I'll try a test first, easymgiven I have my 2025 input docs and TurboTax outputs, see howma few models do.
  • daemin
    The more I hear about companies shifting to focus on AI the more it makes me want to start a direct "successor"/"competitor" company that does what the original company did without shifting to AI. As a bet on the AI enshittifying the original company so much that they either cannot develop the software any more and have to start anew, or that they create so many errors and chaos that they get fined & sued into oblivion, or both.
  • arjie
    Makes sense. After I finished my taxes this time I ran them through Claude Code and it found things I’d forgotten to include that would actually help things.
  • goopthink
    A quick reminder to all commentators that in addition to Turbotax and Quickbooks, Intuit also owns MailChimp for (nowadays pretty broad) marketing, CreditKarma for your credit scores/analysis (and pitching you credit cards), and professional enterprise tax prep software. There’s a lot of red-queening happening in AI for marketing and financial assessment software. Individual tax prep, maybe not as much?
  • WarmWash
    Gemini and GPT did my (non-trivial) taxes this year. They're going to be laying off way more than 3k people.
  • anon
    undefined
  • readthenotes1
    I wonder how many windows 10 users discovered freetaxusa.com works as well as turbotax this year (since Intuit doesn't support Windows 10 any more)
  • 866-RON-0-FEZ
    I've been using TurboTax forever, mostly due to laziness.This year they made you take a survey at the end, asking why you're still using boomer desktop software and haven't switched to their totally-not-worse web version. I think the writing is on the wall.If they kill the desktop version of TurboTax, I'm gone. I despise doing taxes in a browser. I'll go back to doing taxes by hand if I have to.
  • insane_dreamer
    > In its fiscal second quarter ended January, Intuit reported revenue of $4.65 billion, a 17% increase, and net profit of $693 million, a 48% improvement compared to a year earlier.So profits are up 50% YOY and the CEO got a $30M package, but they're cutting 3000 employees.
  • anon
    undefined
  • gizajob
    TurboLayoffs
  • user3939382
    Intuit lobbies to keep our complex tax code for the benefit of their revenue. Intuit is a parasite. If they could go ahead and lay off the rest of their workforce and fold it up that would be great.My favorite Intuit experience was hiring one of their ex engineers to convert my QuickBooks file back to the last version that didn’t require a subscription which they intentionally tried to make impossible.Double entry bookkeeping doesn’t need a subscription and their connectors are constantly broken. Fuck Intuit very much.
  • croes
    I guess 3k users less for TurboTax
  • ForOldHack
    Well, if all there QA people have left... Their "pivot" is straight off a cliff. Best of luck.
  • ChrisArchitect
  • shandilyaharsh
    i mean layoffs used to happen every year no? the companies are just piggybacking atp
  • bonsai_spool
    I think this isn't terrible, actually.If there aren't humans involved in tax filing, the process of moving from private-entities-are-needed-to-do-your-taxes to the-government-can-figure-out-your-taxes becomes politically easier as we won't be taking jobs away from families.We got somewhat close to this ideal before Trump Round 2, so ideally eight years of a more normal admin will be enough.
  • Ozzie-D
    [dead]
  • zenai666
    [flagged]
  • huaiorg
    [dead]
  • IndianHandwash
    [dead]
  • techtuate
    Interesting article and an accelerating trend that will continue for some time in the tech industry. The challenge and the opportunity will be for legacy companies to ensure their legacy stack is well mapped to the newfound AI capabilities. My biggest fear is human laziness - AI coding is good for the most part and will get many times better over the next few months - BUT IT'LL NOT BE PERFECT. Overloaded employees are likely to get lazy and ship features cheaper and faster without checking - this will lead to small businesses being hit for no fault of their own. Anyway - short term share price gains beckon.