Intuit laid off 399 employees last week in a corporate realignment, the tax software provider confirmed, which represents roughly 5 percent of its 8,500 employees.
The organizational changes “drive greater alignment with the company’s priorities,” Intuit said when reached for comment.
“These changes unfortunately did affect 399 employees overall across Intuit. All will receive separation packages and assistance with career assistance from Intuit and are eligible to look for another position with the company.”
In February, Intuit reported a 3 percent increase in total company revenue in the second quarter of fiscal year 2015, to reach $808 million, and the addition of more than 100,000 QuickBooks Online subscribers over the previous quarter. Meanwhile, while the company sold more TurboTax Online units than the previous year period, TurboTax Desktop and TurboTax Free File Alliance sales declined. News of Intuit’s Q2 revenue came in the middle of a tax season mired with identity theft and fraudulent activity for online taxpayers, including TurboTax users.
Last month, Intuit announced QuickBooks Online had more than 1 million paying subscribers.
“Intuit is a growing company and to keep our momentum going, we have increased clarity of our strategy and are matching our investment decisions our time, people and dollars against our strategic goals that make the largest impact on customers’ lives and business outcomes,” Intuit said about last week’s reorganization.
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