Intuit, a financial software giant, has announced a significant restructuring, laying off approximately 1,800 employees, which constitutes about 10% of its workforce. However, the company isn't just reducing its headcount; it simultaneously plans to hire the same number of new workers, particularly in areas focusing on artificial intelligence (AI). Intuit's CEO, Sasan Goodarzi, emphasized that this move isn't about cutting costs but about reallocating resources to support growth areas within the company and better serve its customers. The layoffs will affect various departments within Intuit, leading to the closure of its offices in Edmonton, Canada, and Boise, Idaho, impacting over 250 employees. Additionally, 1,050 employees are being laid off for not meeting performance expectations. The restructuring aims to streamline operations and shift resources towards AI, with plans to consolidate 80 tech roles in strategic locations such as Atlanta, Bangalore, New York, Tel Aviv, and Toronto. Intuit plans to channel investments into its AI-powered financial assistant, Intuit Assist, which offers AI-generated financial recommendations. The company will be hiring new talent in engineering, product development, data science, and customer-facing roles, particularly those with AI expertise. Despite the heavy emphasis on AI, the restructuring appears to also be an effort to remove underperforming employees and enhance decision-making efficiency within the company.