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☎️ INTUIT LAYS OFF 1,800 EMPLOYEES

☎️ INTUIT LAYS OFF 1,800 EMPLOYEES

Day: 10 | Time: 22:56:19 Financial services and fintech company Intuit has announced the layoff of around 1,800 employees to focus on artificial intelligence projects. The CEO explained that the layoffs were not done for cost-cutting reasons, but to adapt to technological change. However, the employees will not be replaced by artificial intelligence, but by new hires specialized in AI. The restructuring will cost the company between $250 and $260 million. The news has caused a 3.6% decrease in the company's stock. The laid-off employees will receive compensation packages and support in career transition and healthcare coverage for six months.

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Source: Cointelegraph