Intuit cuts 17% of staff to focus on AI

Even big finance software companies can't escape the AI wave. Intuit, the company behind TurboTax and QuickBooks, just laid off about 3,000 people—that's 17% of its workforce. The CEO said they need to simplify things and put more money into AI products.

While the CEO made $36.8 million last year, it's unclear if he'll take a pay cut too. The stock hasn't been doing great lately, so investors aren't fully convinced about their AI plans yet.

For regular users, your tax or accounting software might get smarter soon. But there could be some changes along the way. Keep an eye on updates from Intuit to know what's coming.