Intuit Inc. Announces Reorganization Plan, Laying Off Employees and Closing Sites

Intuit Inc. announces reorganization plan involving layoffs and site closures, with a focus on key growth areas. The company plans to hire more employees by 2025, resulting in charges of $250-260 million. Despite the decline in share value, Intuit aims to boost investments in generative AI and expand into new markets. INTU shares are currently trading lower by 4.15% at $623.45.