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Intuit Cuts 17% of Workforce as Software Maker Pursues 'Greater Velocity'

Intuit announced a 17% reduction in full-time staff Wednesday, affecting more than 3,000 employees. The tax and finance software company seeks operational efficiency through the restructuring, which will generate $300 million to $340 million in charges, primarily in the current quarter, CEO Sasan Goodarzi said. The company reported third-quarter revenue of $12.56 billion, slightly below analyst expectations, with growth of 10% year-over-year marking the slowest expansion rate since 2024. Intuit's shares have declined more than 40% this year amid broader pressure on software stocks. The company raised its full-year fiscal 2026 forecast despite the headwinds. The downsizing follows similar announcements from technology peers including ZoomInfo and Cloudflare, each cutting 20% of headcount.