Intuit will be shuttering its Edmonton office and laying off 1,800 employees, about 10 percent of the company’s workforce, according to a United States Securities and Exchange Commission filing made today.
The move is part of a company-wide reorganization plan for the Mountainview, Calif.-based TurboTax parent company. The restructuring will also see the closure of its Boise, Idaho office and the consolidation of approximately 80 tech roles into its offices in Atlanta, Bangalore, New York, Tel Aviv, and Toronto.
The company said it has more than 250 employees in its Edmonton and Boise offices, and that some number will be relocated within the company while others will depart. No further details on the Edmonton roles were provided. Intuit expects the layoffs and office closures to be completed by the end of October this year.
In an email to employees, Intuit CEO Sasan Goodarzi cited the “AI revolution,” adding that the company “must accelerate” its investments in the areas most important to its future success. The email goes on to say that Inuit expects its overall headcount to grow in its 2025 fiscal year, as it will hire approximately 1,800 people primarily in engineering, product, and customer-facing roles such as sales, customer success, and marketing.
“The changes we are making today enable us to allocate additional investments to our most critical areas to support our customers and drive growth,” Goodzari said.
Goodarzi said that approximately 1,050 of the layoffs are because the company has “significantly raised the bar” and that those employees “are not meeting expectations.” In addition to that, the company is eliminating more than 300 roles to “streamline work and reallocate resources toward key growth areas.”
Intuit is also trimming its executives, which it defines as workers at the director level and above, by 10 percent.
Feature image courtesy Intuit.