Intuit layoffs reach Israel as AI push reshapes global workforce
The financial software giant is cutting 3,000 jobs worldwide, with its 500-person Israeli R&D center also affected amid a broader restructuring around artificial intelligence.
Financial software giant Intuit is cutting jobs at its local research and development center in Israel as part of a worldwide restructuring tied to artificial intelligence.
Intuit announced plans to lay off roughly 3,000 employees globally, about 17% of its workforce, in a move the company says is intended to simplify operations and sharpen focus on its largest strategic priorities, particularly AI. The cuts are also affecting the company’s Israeli operations, which employ around 500 people.
Intuit CEO Sasan Goodarzi told employees in an internal memo that reducing complexity and simplifying the corporate structure would help the company deliver better products. The company has made AI a central focus of its strategy, signing multi-year agreements with Anthropic and OpenAI to integrate their models into Intuit’s financial software products.
The Israeli R&D center has become an important part of Intuit’s global engineering operations over the past decade, built largely through acquisitions of local startups. In 2014, the company acquired Israeli financial management startup Check for $360 million, establishing a significant presence in the country. It later expanded further with the 2021 acquisition of cloud security startup Imvision for $50 million.
The cuts come amid mounting pressure across the software industry as investors and executives grapple with the implications of generative AI. Technology companies have increasingly sought to convince markets that AI investments will eventually deliver efficiency gains and productivity improvements, even as many firms continue to report slowing growth in core businesses.
Intuit’s restructuring follows similar moves across the sector. Companies including Amazon, Block and Pinterest have all announced layoffs this year while emphasizing AI-related efficiency initiatives.
As part of the restructuring, Intuit is also shutting down offices in Reno and Woodland Hills in the United States while consolidating operations around larger hubs. Employees affected in the US will receive severance packages including 16 weeks of base pay plus additional compensation based on tenure.
