Intuit Cuts 399 Positions

IntuitIntuit have reportedly cut back 399 people representing a little under 5% of their staffing.

This investor presentation slide deck on the Intuit site ( http://investors.intuit.com/events/default.aspx ) gives some clues as to Intuit changes.

The company appears to be shuffling product strategy to move customers to QuickBooks Online (presently 700,000 — target 2 million globally by 2017).

Also this is not the first time Inuit has trimmed employees – there have been at least two prior layoffs each of which seemed to be similar in size.

June 2008 – 575 employees / 7% – http://www.intuit.com/company/press-room/press-releases/2008/0626/

July 2012 – 226 employees – http://www.utsandiego.com/news/2012/jul/27/intuit-trims-san-diego-workforce/

July 2015 – 200 employees – http://tucson.com/business/local/intuit-s-tucson-office-to-lay-off-workers/article_3b4085a1-d866-5ec3-bf17-dc594b0c059e.html

August 2014 – 120 employees – http://www.sfvbj.com/news/2014/aug/19/intuit-lays-120-woodland-hills/

About Wayne Schulz

Wayne Schulz is a consultant who writes about the ERP industry and technology related news.