Intuit Cuts 300 Employees

Intuit has laid off about 300 of its employees, mainly in the software developer’s Small Business Division, which sells QuickBooks.

The cuts represent a little over 4 percent of the company’s 8,200-employee workforce. Employees were given 60 days’ notice. “We manage our resources on an ongoing basis; these changes support our long-term growth strategy,” said the company, adding that the changes are “not material.”

Intuit has been shifting resources to support a “connected services” strategy that emphasizes Internet-based offerings. The company cut 575 jobs last June as part of that strategy (see Intuit Reorganizes and Cuts 575 Jobs). Also in line with the connected services strategy, Intuit announced plans last week to buy the online payroll service PayCycle for $170 Million (see Intuit to Acquire PayCycle for $170 Million).

The layoffs are not related to the acquisition, according to Intuit spokesperson Holly Perez. "Employment decisions related to the PayCycle acquisition will be determined once the deal closes [in the third quarter of 2009]," she said.