Intuit lays off 17 percent of its global workforce

TurboTax parent company Intuit is laying off about 17 percent of its global workforce, or roughly 3,000 employees. The news: The company, which has an office in Toronto, told employees in an internal memo earlier this week that it’s reducing investments in certain areas so it can pour resources into what it calls its “big bets.” According to an investor presentation from last year, those bets are meant to “drive durable growth over the long term, with a strategic focus on AI.” The internal memo