TurboTax Laying Off 300 Workers
June 6, 2009 by Stephen Kersey
Filed under Business
Intuit, the makers of the popular TurboTax software, is trimming its workforce from 8,200 to 7,900. About 150 of the 300 laid off workers currently are employed in Mountain View, California.
Those workers who will be laid off received notices that they will be out of a job in 60 days. Following this announcement, Intuit stock dropped slightly.
Overall, Intuit appears to be a relatively healthy company. Their profit in their latest quarter rose from $444 million last year to $485 this year. Their revenue was also up — $1.3 billion to $1.4 billion.
TurboTax is a piece of software that help Americans prepare their taxes for both federal and state income tax returns. Intuit has owned the TurboTax brand since 1993.
Intuit was founded in 1983. In addition to TurboTax, the company also has a number of other products including Quicken, QuickBooks, QuickBase, Intuit Eclipse and Billing Manager.
TurboTax software (Image: Flickr)
