#intuit

Home - CBSNews.com | AI is driving more job cuts and weighing on hiring, economists say AI generated summary, Read the full article for complete information. AI‑related layoffs are climbing, with nearly 50,000 jobs cut this year—about 17 % of all announced cuts—after firms such as Intuit, Meta and Cisco trimmed staff to pivot toward AI. Experts, however, say the bigger story is not mass dismissals but a slowdown in hiring, especially for junior and entry‑level positions, which has already shaved roughly 16,000 jobs from monthly payroll growth and nudged the unemployment rate up. Analysts warn AI could eventually affect up to 15 % of U.S. jobs, yet most current cuts are framed as strategic moves to invest in technology rather than direct replacements of workers. Consequently, younger workers face heightened risk as their roles are easier to automate, while those who combine AI proficiency with adaptability and uniquely human skills are likely to be best positioned for the evolving labor market. Read more: https://www.cbsnews.com/news/ai-layoffs-hiring-entry-level-workers/ #Intuit #Meta #Cisco #Challenger #GoldmanSachs #DanielKeum #GregDaco

US Top News and Analysis | Intuit plans to cut workforce by about 17% as tax software maker reckons with slowing growth AI generated summary, Read the full article for complete information. Intuit announced it will cut roughly 17 % of its full‑time workforce – about 3,000 jobs – as part of a restructuring aimed at “operating with greater velocity” and delivering longer‑term growth. The layoff, which will generate $300 million‑$340 million in charges largely in the current quarter, comes after the company reported fiscal‑third‑quarter earnings of $12.80 per share on $8.56 billion of revenue, just shy of analysts’ expectations, with revenue growth slowing to 10 % year‑over‑year. Despite a 9 % rise in net income to $3.06 billion, Intuit’s shares have fallen more than 40 % this year, reflecting investor concerns that artificial‑intelligence advances could erode demand for its tax and finance software. The company plans to consolidate teams, close offices in Reno and Woodland Hills, and streamline operations after integrating TurboTax, Credit Karma, and scaling back its Mailchimp activities. Read more: https://www.cnbc.com/2026/05/20/intuit-intu-q3-earnings-report-2026-company-cutting-17percent-of-staff.html #Intuit #SasanGoodarzi #TurboTax #CreditKarma #Mailchimp

For anyone contemplating the new TurboTax offering of uploading your crap and letting someone else do your taxes, it's not ready for prime time. The experience is super disjointed and prolonged. We got federal plus two states for $150 which is less than it would have been for us to do it ourselves. So, OK it was fine. But if it's more expensive next year than doing it on our own we won't bother. Honestly, we really should stop with Intuit. It's just another evil megacorp that truly doesn't deserve our money. #TurboTax #Intuit