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News
Intuit cuts 17% of workforce in restructuring aimed at AI platform scalability
2+ week, 2+ day ago (378+ words) The TurboTax parent is spending up to $340 million on severance as it consolidates teams and doubles down on AI partnerships with OpenAI and Anthropic. Intuit just told roughly 3,100 employees that their roles are being eliminated, a move the company says…...
Intuit sinks 12% amid AI disruption fears, Adobe and ServiceNow drop 3%
2+ week, 5+ day ago (284+ words) A strong earnings beat couldn't save Intuit from a brutal sell-off after management slashed growth expectations, dragging the broader software sector down with it. Intuit posted fiscal Q4 adjusted earnings of $4.03 per share, comfortably beating the $3.58 analysts expected. The stock dropped…...