Get all your news in one place.

100's of premium titles.
One app.

Get all your news in one place.

100's of premium titles. One news app.

Barchart

Pathikrit Bose

Intuit Is Slashing More Than 3,000 Jobs. Why Wall Street Is Punishing INTU Stock for the AI Pivot.

IN: INTU Intuit QuickBooks TurboTax Credit Karma SAP

Financial software company Intuit (INTU) is looking to be the latest to trim its workforce. In an internal email circulated among employees, CEO Sasan Goodarzi has reportedly said that the move to shed about 3,000 jobs in the company is being done to operate more effectively and focus on assimilating AI across its products and services.

To put it simply, AI may do the jobs of these people, and the company will save costs. Consequently, the shares should have reacted positively, right? Wrong. INTU stock ended 4% lower in yesterday's trading session.

Sign up to read this article

Read news from 100's of titles, curated specifically for you.

Already a member? Sign in here

Top stories on inkl right now

Michael King Pushed the Boundaries of MLB History to Save the Padres’ Season

Michael King Pushed the Boundaries of MLB History to Save the Padres’ Season

King recorded a historic six-out save just two days after starting Game 2 to keep San Diego alive in the NLDS against the Brewers.

Sports Illustrated

Flydubai attack investigation widens as alleged hijacker’s training in New Zealand scrutinised

Flydubai attack investigation widens as alleged hijacker’s training in New Zealand scrutinised

Hamam al-Hammami spent 175 days in New Zealand until May 2019, as Australian Jewish group calls for full investigation into his time in Melbourne

The Guardian - AU

Kansas neighbour cut 133 trees, some 70 feet onto adjoining land; court upholds $6,500 award

Kansas neighbour cut 133 trees, some 70 feet onto adjoining land; court upholds $6,500 award

A Kansas appeals court has upheld a $6,500 damages award against a man whose neighbour’s fence project led to 133 trees being cut on adjoining land in 2015. The court found the landowner filed his trespass case within the legal time limit and that there was enough evidence to hold…

The Times of India

Germany’s former spy chief arrested over alleged treason: 2,000 classified documents at centre of probe

Germany’s former spy chief arrested over alleged treason: 2,000 classified documents at centre of probe

Germany’s former foreign intelligence chief August Hanning was arrested on Tuesday on suspicion of treasonous espionage and passing sensitive information to overseas intelligence services, the federal prosecutor’s office said.

The Times of India

One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

FL Declares Emergency in 25 Counties as Gulf Depression Could Become Season's First Hurricane, Residents Warned

FL Declares Emergency in 25 Counties as Gulf Depression Could Become Season's First Hurricane, Residents Warned

Florida Governor Ron DeSantis has declared an emergency in 25 counties as Tropical Depression Nine tracks towards the Gulf Coast with hurricane-strength conditions possible near landfall.

International Business Times UK

USMNT Player Ratings vs. Canada: American Boys See Out Perfect Fall Window

USMNT Player Ratings vs. Canada: American Boys See Out Perfect Fall Window

The U.S. men’s national team cruised to a 1–0 win against Canada.

Sports Illustrated

Related Stories

Top stories on inkl right now

Michael King Pushed the Boundaries of MLB History to Save the Padres’ Season

Michael King Pushed the Boundaries of MLB History to Save the Padres’ Season

King recorded a historic six-out save just two days after starting Game 2 to keep San Diego alive in the NLDS against the Brewers.

Sports Illustrated

Flydubai attack investigation widens as alleged hijacker’s training in New Zealand scrutinised

Flydubai attack investigation widens as alleged hijacker’s training in New Zealand scrutinised

Hamam al-Hammami spent 175 days in New Zealand until May 2019, as Australian Jewish group calls for full investigation into his time in Melbourne

The Guardian - AU

Kansas neighbour cut 133 trees, some 70 feet onto adjoining land; court upholds $6,500 award

Kansas neighbour cut 133 trees, some 70 feet onto adjoining land; court upholds $6,500 award

A Kansas appeals court has upheld a $6,500 damages award against a man whose neighbour’s fence project led to 133 trees being cut on adjoining land in 2015. The court found the landowner filed his trespass case within the legal time limit and that there was enough evidence to hold…

The Times of India

Germany’s former spy chief arrested over alleged treason: 2,000 classified documents at centre of probe

Germany’s former spy chief arrested over alleged treason: 2,000 classified documents at centre of probe

Germany’s former foreign intelligence chief August Hanning was arrested on Tuesday on suspicion of treasonous espionage and passing sensitive information to overseas intelligence services, the federal prosecutor’s office said.

The Times of India

One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

FL Declares Emergency in 25 Counties as Gulf Depression Could Become Season's First Hurricane, Residents Warned

FL Declares Emergency in 25 Counties as Gulf Depression Could Become Season's First Hurricane, Residents Warned

Florida Governor Ron DeSantis has declared an emergency in 25 counties as Tropical Depression Nine tracks towards the Gulf Coast with hurricane-strength conditions possible near landfall.

International Business Times UK

USMNT Player Ratings vs. Canada: American Boys See Out Perfect Fall Window

USMNT Player Ratings vs. Canada: American Boys See Out Perfect Fall Window

The U.S. men’s national team cruised to a 1–0 win against Canada.

Sports Illustrated

Our Picks

NY Woman finds stolen Tamayo painting in trash; Sotheby’s sells it for $1.049 million

In 2003, Elizabeth Gibson found a brightly coloured painting in the rubbish on Manhattan’s Upper West Side. She later discovered it was Rufino Tamayo’s 1970 work “Tres Personajes”, stolen from a Houston couple in 1987. Sotheby’s planned to auction it for up to $1 million.

The Times of India

Jaden Newman Leaked Video Controversy: Viral Post Claims LaMelo Ball Paid Her $250K for One Encounter

A viral post claimed LaMelo Ball paid Jaden Newman $250,000 after seeing a private video, but no reliable evidence supports the alleged payment, encounter or quote.

International Business Times UK

His Wife Says Decades of Sleep Talking Nearly Went Quiet After Hypnosis Gave Her a One-Word Cue

A man's decades-long sleep talking faded after hypnosis gave his wife a librarian's "Shhhh" as a cue, a case report says. Here's what it shows.

A Woman Smoked, Ate, and Walked in Her Sleep, and the Behaviors Returned Every Time Her Medication Stopped

A woman sleepwalked, ate, and smoked during sleep. A 2022 case report found that one bedtime drug quieted all three until it was stopped.

Have an Elmo Teether in the Freezer? Check It Before Giving It Back to Baby

That familiar red Elmo face sitting in your freezer may deserve a closer look before it goes back into your baby’s hands. A Skip Hop Baby “Sesame Street” Elmo Silicone Teether has been recalled because its black eye pieces can detach if the product is frozen, creating a choking hazard.…

Kids Ain't Cheap

Gen Z's new American Dream: Skip the mortgage, book the flight

Young Americans are trading square footage, new cars, and even moving out for plane tickets, even as airfares jump more than 20%.

Fourteen days free

Download the app

One app. One membership.
100+ trusted global sources.

Download on the AppStore

Get it on Google Play