Intuit to cut 575 jobs

Financial software maker Intuit has announced that they are now cutting 7 percent of its workforce.

The company would let go around 575 employees which is expected to result in a charge of $22 million in the current quarter.

Intuit said that these job cuts are part of their plans to streamline their operations.

They have now cut its forecast for earnings per share by the size of the charge.

Intuit is now expecting to post a fourth-quarter loss per share of 18 to 20 cents.

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