Intuit plans to eliminate about 7 percent of its workforce as it realigns its organizational structure to pursue a "connected services" strategy.
The move will lead to approximately 575 job cuts across various business units and locations, mainly in functions such as human resources and administration. The company plans to take a pre-tax charge of about $22 million, or $0.04 per share, in its fiscal fourth quarter, which ends July 31. That will produce a fourth-quarter GAAP loss per share of $0.18 to $0.20, and a non-GAAP loss per share of $0.07 to $0.09.
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