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Comment by toomuchtodo | Hacker News Reader

> Intuit Inc. is cutting 1,800 employees, the company said Wednesday, marking another major jobs cull in tech.

> About 10% of the global workforce will be affected, Chief Executive Officer Sasan Goodarzi said in a letter to employees. He said the move is not meant to cut costs and that the company expects to re-hire the same number of employees, primarily in its engineering, product and sales divisions.

> Shares of the software company fell 1.6% in premarket trading on the news.

https://www.intuit.com/blog/news-social/investing-in-our-fut...

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Who isn't in "engineering, product, and customer facing roles such as sales, customer success, and marketing"?

Also keep in mind "All employees in the US will have 60 days before they leave the company with a last day of September 9, 2024." isn't out of the generosity of their heart. It's to be compliant with federal regulations (WARN ACT [1]).

[1]: https://en.wikipedia.org/wiki/Worker_Adjustment_and_Retraini...

People in administrative roles such as HR, Compliance, Legal, Operations, Finance, Accounting.

Don't forget Intuit's lobbying corps. Someone's got to carry out the noble mission of backhanding money to legislators to stop tax filing from being easy.

I wonder how much of this is related to them seeing that their fax filing goolden goose is about to be seriously diminished and is just a change in priorities? Espcially after also killing mint in favor of whatever their other offering now is.

But is this a case of the people being cut don't match the skills necessary or are the roles going to be the same but different teams/locations?

"expects to rehire"....in India, for one fifth the cost, I assume

when you can't grow the top line, push down the bottom line

I think the US:south India for companies like Intuit (as opposed to FANG) is down to 3:1 or less. And closing steadily.

I wonder at what ratio, it will not make much financial sense to outsource to India. For example, for us, we can get folks in Ireland for less than half than the U.S. Much lower for eastern and central Europe. The time zone difference is more favorable than India. Quality of work is generally better as well.

I love the US/Pacific IST difference two windows for interaction each day. On the other hand Europe is very hard to work with.

And the actual reason to hire in more cities is to find the precious resource of brilliant people. Cost savings is prima facie short term, but the folks who can solve hard problems with beautiful code is worth a lot.

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