Software giant Intuit laid off about 17% of its employees worldwide – about 3,000 people – on Wednesday, May 20, Reuters reports.
The cuts also affected the company’s Israeli R&D center in Petah Tikva, where about 500 employees work.
The exact number of people laid off in Israel has not yet been established, however, according to available data, we are talking about a number from several dozen people to 200 people.
Intuit’s Israeli development center stems from a series of acquisitions the company has made in the country since 2014, and focuses primarily on information security and cybersecurity.
In addition, IDX operates in Israel, developing a platform for securely integrating Intuit products with external organizations.
The company argues that the layoffs are due to a reduction in operational complexity by simplifying the organizational structure and concentrating efforts on the development of AI.
Let us remind you that the day before Meta Corporation laid off about 8,000 workers worldwide, including about 90 employees in Israel.
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