Abhutra in  
Frontend Software Engineer  

Intuit lays off 1800, around 10%

https://arstechnica.com/information-technology/2024/07/intuits-ai-gamble-mass-layoff-of-1800-paired-with-hiring-spree/


Thought this was an interesting layoff for a few reasons:


  • The CEO says Intuit is in a position of strength and that the layoffs are not cost-cutting related, but they allow the company to "allocate additional investments to our most critical areas to support our customers and drive growth."
  • Approximately 1,050 employees will receive layoffs because they're "not meeting expectations," according to Goodarzi's letter.


Not the usual CEO-speak reasons and interesting to see how all of a sudden 1000 of their employees are 'not meeting expectations.'

Intuit’s AI gamble: Mass layoff of 1,800 paired with hiring spree

Intuit’s AI gamble: Mass layoff of 1,800 paired with hiring spree

Intuit CEO: "Companies that aren’t prepared to take advantage of [AI] will fall behind."

arstechnica.com
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HawksFan12Marketing  
Interesting to see what Klarna is doing. Rather than layoffs they have just stopped hiring (unless critical). Their reasoning was with AI, productivity should increase and the typical tenure of employees is 5 years. So in effect by stopping hiring they are doing a soft layoff of about 20% of their workforce but it doesn’t have the same impact to morale as doing a layoff would.
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iterateSoftware Engineer  
It’s crazy to me that companies are really considering AI as a way to replace engineers… I use AI extensively at my job. But it doesn’t replace engineers. It just makes the research part of our job easier. Many times it’s right but many times it’s wrong. You still have to be able to discern when it’s wrong.
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