Summary:
- Intuit is laying off about 1,800 employees, or 10% of its workforce, to focus on AI-powered tax preparation and financial products.
- The company will close sites in Edmonton, Canada, and Boise, Idaho, while rehiring 1,800 new employees in engineering, product, and customer-facing roles.
- Intuit has heavily invested in generative AI tools for accounting and tax preparation for small and medium businesses.
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