INTU - Why Software Company Intuit's Shares Are Trading Lower Today | Benzinga
Intuit Inc. (NASDAQ:INTU) shares are trading lower after the company announced a reorganization plan aimed at reallocating resources to its key growth areas.
As part of this plan, the company will lay off approximately 1,800 employees and close its Boise and Edmonton sites.
The company plans to hire a nearly equivalent number of employees in fiscal 2025 to support its growth initiatives, expecting overall headcount to increase.
The reorganization will incur charges estimated between $250 million and $260 million, primarily in the fourth fiscal quarter ending July 31, 2024.
These charges include $217 million ...