Intuit plans to cut workforce by about 17% as tax software maker reckons with slowing growth
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- Intuit announced a 17% cut of its full‑time workforce (~3,000 jobs) out of 18,200 employees, incurring $300M‑$340M charges mostly in the current quarter.
- Intuit shares fell 11% in extended trading after the announcement.
- Intuit reported fiscal Q3 adjusted EPS $12.80 on $8.56B revenue, beating analysts' expectations of $12.57 EPS and $8.61B revenue.
- Intuit saw revenue grow 10% YoY, the slowest since 2024, and net income rise 9% to $3.06B.
- Intuit raised its FY2026 adjusted EPS forecast to $23.80‑$23.85 and revenue forecast to $21.34B‑$21.37B, above consensus.
Why it matters: Intuit’s 3,000‑job cut hurts employees and drives a sharp share decline, while the higher FY2026 earnings outlook benefits investors expecting better long‑term returns and a more disciplined cost structure.
