MOUNTAIN VIEW (dpa-AFX) - Intuit Inc. (INTU), Wednesday announced its
decision to cut around 1,800 jobs, and close its Boise and Edmonton sites as
part of its reorganization plan.

The company stated that it expects to incur approximately $250 million to $260
million in charges in connection with the Plan, which consist of around $217
million to $227 million in future cash expenditures related to severance
payments and employee benefits, and around $33 million in non-cash charges for
share-based compensation and charges associated with the site closures.

Intuit expects the plan to complete by its first fiscal quarter ending October
31, 2024.

Currently, Intuit's stock is dropping 4.01 percent, to $623.48 over the previous
close of $649.52 on the Nasdaq.



Copyright(c) 2024 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX