Intuit, the renowned tax preparation and financial software company, has announced a major reorganization plan focused on AI integration, resulting in the layoff of approximately 10% of its workforce. The company plans to let go of 1,800 employees, attributing the decision to the need to accelerate its AI-driven product and service offerings. CEO Sasan Goodarzi highlighted the importance of embracing the AI revolution to stay competitive in the market. The restructuring includes closing offices in Boise, Idaho, and Edmonton, Canada. All U.S. employees facing job loss will receive generous severance packages, including a minimum of 16 weeks of pay and continued health insurance coverage for at least six months. The reorganization is projected to result in charges of $250 million to $260 million. Despite the announcement, Intuit shares experienced a 3.6% drop in morning trading.