Intuit is cutting roughly 17% of its global workforce — about 3,000 employees — as the company restructures around AI-focused growth and attempts to simplify management layers. According to reports based on an internal memo obtained by Reuters, the layoffs are part of a broader effort to “streamline operations” while increasing investment in AI-driven products and other strategic priorities. Affected U.S. employees are expected to receive at least 16 weeks of severance pay plus additional compensation based on years of service, with layoffs taking effect by July 31, 2026.

For Canadians, the announcement raises concerns because it follows Intuit’s major 2024 restructuring, when the company cut 1,800 jobs globally and closed its Edmonton office, affecting 106 workers in Alberta. While no Canadian figures have yet been confirmed in the new round, the move reflects a wider trend across the tech sector: companies are reducing traditional roles while aggressively hiring in AI, engineering, and automation-related positions. In Canada’s job market, this signals continued pressure on administrative and middle-management tech roles, while demand for specialized AI and software talent is expected to remain strong.

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Rashika Singh and Jaspreet Singh’s original article, “AI may be killing entry-level jobs, Bank of Canada governor warns” was published in Reuters on May 20, 2026. Read the Full Reuters News story.

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