Intuit, the financial and fintech firm, is laying off around 1,800 employees as it shifts focus to artificial intelligence (AI). The layoffs, equating to about 10% of its workforce, are not cost-cutting measures but a strategic move to adapt to the evolving tech landscape. CEO Sasan Goodarzi stated that the majority of those laid off did not meet performance expectations. The company plans to hire around 1,800 new employees, mainly in engineering, product, and customer-facing roles. The restructuring is expected to cost between $250 million and $260 million.