Intuit Continues To Lay Off Employees Due To Realignment, Report Says
Intuit Inc, a company specializing in software, announced another layoff as the company continues in its realignment, according to an internal memo issued by Chief Executive Brad Smith.
Around 249 employees, mostly holding position at Intuit’s Small Business Group, were let go. TechCrunch confirmed the news in an interview with Smith. Earlier in June, Intuit asked 399 employees to leave as the company will begin its realignment.
TechCrunch also reports that just last week, as part of Intuit’s quarterly profits, it will remove certain business units such as QuickBase, Demandforce and Quicken, to mention a few. After the release of its earnings report, its stocks gave a sharp downturn.
Intuit was founded in 1983 in Palo Alto, California by Tom Proulx and Scott Cook. It has been ranked as among Fortune’s Top 100 best companies to work for.
“In 2013, we kicked off a multi-year change journey designed to sharpen Intuit’s focus on investment in business that strengthen the Intuit ecosystem and align with two strategic goals: to be the operating system behind small business success, and to do the nations’ taxes in the U.S. and Canada,” TechCrunch quoted the company’s spokesperson.
Structure and alignment
“We have great confidence in our strategy, our execution, and our trajectory as we build this company for the long term. These are tough choices, but we believe these are the right moves for a company that’s built to last and focused on the future,” the spokesperson added.