Intuit, the company known for QuickBooks and TurboTax, announced a significant reorganization plan focused on incorporating artificial intelligence into its products and services. This plan includes laying off approximately 10% of its workforce, about 1,800 employees, with intentions to hire a similar number by fiscal 2025. CEO Sasan Goodarzi highlighted that over 1,000 of the layoffs were due to employees not meeting the company's expectations, while another 300 positions were eliminated to reallocate resources. The company will also close offices in Boise, Idaho and Edmonton, Canada. Goodarzi emphasized the importance of embracing AI technology, warning that companies not ready for this shift will fall behind. Intuit is offering generous severance packages to laid off U.S. employees and expects the reorganization to result in charges of $250-260 million. The market response to this news was a 3.6% drop in Intuit's share price.