 |
|
Intuit Cutting 7% of WorkforcePOSTED June 30, 2008 MOUNTAIN VIEW -- Intuit Inc. announced it will reorganize operations to save money and will eliminate 575 jobs at the company. Intuit is the leading maker of accounting and tax-preparation software packages Quicken and TurboTax. The changes better position the company to deliver on its comprehensive "Connected Services" strategy. The strategy increases Intuit's emphasis on developing value-added services for its desktop products and innovative online offerings. The company plans to focus on both traditional and new markets across the globe, while embracing social networking and mobile technology trends. Under the new alignment, Intuit will streamline operations, particularly in its general and administrative functions, and reallocate those resources to invest in key growth businesses and accelerate innovation. As a result the company will eliminate approximately 575 positions, or about 7 percent of its workforce. Intuit expects this action to result in a pre-tax charge of
approximately $22 million, or $0.04 per share in Intuit's fourth
fiscal quarter, which ends July 31. The charges include all actions
taken in the fourth quarter. © Copyright SVDaily.com |
|