Intuit cutting 17% of its workforce, or about 3,000 employees

•   Intuit's products include TurboTax, QuickBooks, Credit Karma, Mailchimp and Intuit Enterprise Suite.

On May 21, 2026, Intuit announced that it is cutting 17% of its workforce, or about 3,000 employees. In a news release, the company said it wants to "simplify its organizational structure and become a faster, leaner, more focused company."

 

 

The company estimates that it will incur approximately $300 million to $340 million in restructuring charges, largely recognized in its fourth fiscal quarter ending July 31, 2026.

"We are further scaling our growth engines and architecting an organization that operates with greater velocity to deliver durable long-term growth," Chief Executive Sasan Goodarzi said in a statement.

=Eli Lilly (LLY): global workforce reductions

Eli Lilly announces global workforce reductions that are expected to impact approx. 3,500 positions; co expects annualized savings of approx. $500 million that will begin to be realized in 2018(80.51 )

Co expects the majority of the positions eliminated to come from a U.S. voluntary early retirement program, which is being offered to employees who meet certain criteria.

• Those who participate will receive enhanced retirement benefits.
• The program, announced to U.S. employees on September 7, 2017, will be largely completed by December 31, 2017.
• Remaining positions will come from other anticipated workforce reductions, including select site closures.
• In addition to the U.S. voluntary early retirement program, the company will determine where it needs to further reduce costs and improve efficiencies.
• Lilly expects to incur charges of ~$1.2 billion pre-tax or $0.80 per share after-tax, which includes the estimated participation of the U.S. voluntary early retirement program, global severance and facility closures.
  • The company's reported earnings per share guidance in 2017 will be reduced by the amount of the charges.
  • There will be no change to the company's non-GAAP EPS guidance as a result of these initiatives.
• The annualized workforce savings of ~$500 million will be about equally split to improve the company's cost structure and reinvest in the business, including product launches and clinical development for new indications and line extensions.