Big tech company Intuit Inc. is revamping its workforce. This translates to saying goodbye to about 1,800 employees – which is roughly 10% of its total workforce. However, the company isn’t shrinking. Instead, it plans to match the number of layoffs with new hires. This major shake-up is part of an AI-focused restructuring effort.
CEO Explains the Upcoming Changes
Intuit’s CEO, Sasan Goodarzi, broke the news in a company-wide letter on Wednesday. In a blog post on the company’s website, he declared that this is no ordinary shift. We are living in the age of Artificial Intelligence (AI) – one of the most important technological shifts of our lifetime.
AI technology is quickly transforming every industry in breathtaking ways. Businesses who turn a blind eye to this AI revolution risk falling behind and even disappearing over time.
According to Goodarzi, Intuit intends to lead, harnessing this extraordinary era to its advantage.
Cutting and Hiring: The Real Deal
Now, you may be thinking – why lay off so many workers and then hire the same amount again? This isn’t about saving money. In fact, these layoffs aren’t necessarily bad news for the company. Goodarzi assures that Intuit remains strong.
The layoff will allow the company to reassign investments to crucial areas. These areas are crucial for customer support and driving growth. Despite the layoffs, Intuit’s overall headcount is expected to grow in the fiscal year 2025.
Shaping Up for the AI Revolution
The company’s primary focus is to ride the AI wave. By matching the number of layoffs with new hires, Intuit plans to add fresh, AI-ready talent to its team. The objective is clear: become an AI-forward company that’s equipped to navigate this transformative era.
The transition towards AI requires a workforce that’s skilled in modern technologies. With this in mind, Intuit’s layoffs and subsequent hiring only make sense. They’re refitting their team for the future.
Taking Intuit to New Heights
With this strategic restructuring approach, Intuit is set on evolving into a tech-strong company. Through focusing on AI, the company is not just thinking about the present but is also laying a robust foundation for the future.
Goodarzi says Intuit is prepared to leverage the AI revolution. The company stands ready and optimistic about its future as it plans to add a steady flow of AI-skilled personnel to its ranks.
In a nutshell, Intuit’s strategy is all about adapting to the fast-paced technological changes in the business world. By reshaping its workforce and focusing on AI, the company is preparing for a future where AI is no longer a luxury but a necessity.
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Get ready for an exciting ride as we witness how Intuit’s strategy pans out. Let’s keep an eye on the company’s next moves in their journey towards leading in the AI era. Remember – adaptability is key in the ever-evolving world of technology!
[[Original news: https://arstechnica.com/gadgets/2022/03/intuit-to-layoff-10-of-workforce-recruit-the-same-amount-for-ai/ ]]