In a memo to employees, CEO Sasan Goodarzi said the layoffs are meant to reduce complexity, simplify the company's corporate structure, and deliver better AI products.
The growth prospects for Intuit are poor. They can basically try to upsell you harder while you’re using TurboTax. I sure don’t like the idea of AI being involved in my tax preparation, though
The QuickBooks ecosystem is a large driver, but they also offer their payment processing via many other paths. Competition in the space is vast, and a good thing, unfortunately most of the competing products are actual garbage.
The growth prospects for Intuit are poor. They can basically try to upsell you harder while you’re using TurboTax. I sure don’t like the idea of AI being involved in my tax preparation, though
Turbo Tax is small peanuts for Intuit, they make most of their money from the Payments division.
Is that through QuickBooks? Seems like there’s a lot of competition in that space too, though I’m not very familiar with it
The QuickBooks ecosystem is a large driver, but they also offer their payment processing via many other paths. Competition in the space is vast, and a good thing, unfortunately most of the competing products are actual garbage.