Intuit software is reducing its full-time workforce by about 17% to simplify its 'organizational structure', including winding down the Reno office, along with one in Woodland Hills, California.
The reduction was mentioned during its quarterly revenue call earlier this week.
They say it's meant to better consolidate employees in other locations.
The last day for the 162 employees linked to the Reno location will be July 31st.
Intuit says it is offering employees who are let go a severance package which includes 16 weeks of pay, plus two more weeks for each year spent with the company along with six moths of health insurance.
"These are valued colleagues and friends who have been vital to shaping the company we are today. Saying goodbye is never easy, and I want to acknowledge the weight this news carries for all of us," says Intuit Chairman and CEO Sasan Goodarzi in a letter to employees.Â
Intuit makes software for TurboTax, Credit Karma, QuickBooks, Mailchimp, and Intuit Enterprise Suite.Â
Intuit estimates that it will incur approximately $300 million to $340 million in restructuring charges, largely recognized in its fourth fiscal quarter ending July 31, 2026.
