Maker of TurboTax says it’s laying off 1,800 workers, also hiring 1,800 others [Video]

Intuit, the parent company of TurboTax and Credit Karma, said it plans to layoff 1,800 workers, representing 10% of its workforce, as the company plans to implement more artificial intelligence in its workflow.

In a letter to employees, Intuit said the move was not one to cut costs, as it plans to hire 1,800 new employees. The company, however, has not said whether these employees will be paid at the same rate as those being laid off.

“These are extremely painful decisions for me and my team because we deeply understand the impact these decisions have on our friends and colleagues who will be leaving. We are very grateful for the great work they have done and the amazing contributions they have made while at Intuit,” said Intuit CEO Sasan Goodarzi in a letter to employees.

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