Business | Another California tech company lays off thousands, citing AI by Nilesh Christopher

AI generated summary, Read the full article for complete information.

Intuit, the maker of TurboTax, announced it will lay off 17 % of its workforce—about 3,000 employees—as part of a restructuring aimed at cutting costs and accelerating its investment in artificial intelligence. The company said it had become bogged down by “too many organizational layers” and will close its Reno and Woodland Hills offices, incurring roughly $300‑$340 million in restructuring charges. Despite the cuts, Intuit reported a 10 % year‑over‑year revenue increase to $8.56 billion in its third‑quarter results. Executives emphasized that the layoffs are intended to create a “faster, leaner, more focused” organization rather than being directly driven by AI replacing workers, though AI will be integrated across its product suite—including TurboTax, QuickBooks, Credit Karma, and Mailchimp—to deliver value at scale. The move adds to more than 114,000 tech‑sector jobs cut this year as companies grapple with AI‑driven productivity gains and evolving market dynamics.

Read more: https://www.latimes.com/business/story/2026-05-22/another-california-tech-company-lays-off-thousands

#Intuit #SasanGoodarzi #SandeepAujla #TurboTax #CreditKarma

US Top News and Analysis | Intuit plans to cut workforce by about 17% as tax software maker reckons with slowing growth

AI generated summary, Read the full article for complete information.

Intuit announced it will cut roughly 17 % of its full‑time workforce – about 3,000 jobs – as part of a restructuring aimed at “operating with greater velocity” and delivering longer‑term growth. The layoff, which will generate $300 million‑$340 million in charges largely in the current quarter, comes after the company reported fiscal‑third‑quarter earnings of $12.80 per share on $8.56 billion of revenue, just shy of analysts’ expectations, with revenue growth slowing to 10 % year‑over‑year. Despite a 9 % rise in net income to $3.06 billion, Intuit’s shares have fallen more than 40 % this year, reflecting investor concerns that artificial‑intelligence advances could erode demand for its tax and finance software. The company plans to consolidate teams, close offices in Reno and Woodland Hills, and streamline operations after integrating TurboTax, Credit Karma, and scaling back its Mailchimp activities.

Read more: https://www.cnbc.com/2026/05/20/intuit-intu-q3-earnings-report-2026-company-cutting-17percent-of-staff.html

#Intuit #SasanGoodarzi #TurboTax #CreditKarma #Mailchimp

US Top News and Analysis | A 31-year-old used a HELOC to compete with all-cash offers on a house. 3 lenders to do the same

AI generated summary, Read the full article for complete information.

A 31‑year‑old couple in Lancaster, Pennsylvania finally bought their first home by using a family‑member’s home‑equity line of credit (HELOC) to make an all‑cash offer that beat cash‑only competitors. After five unsuccessful bids, they secured a $200,000 HELOC from a relative, added their $45,000 down‑payment savings, and offered cash for a house, closing the deal in about four to five months. They later refinanced with a $250,000 fixed‑rate home‑equity loan to repay the relative’s HELOC. The story highlights how millennials and Gen Z buyers increasingly rely on family assistance—27 % of millennials and 38 % of Gen Z reported parental co‑ownership, co‑buying, or co‑signing—while the average age of first‑time buyers has risen to 40. It also outlines the pros (stronger offers, larger down payments) and cons (personal liability, potential family strain) of using a family‑member’s HELOC, and reviews several lenders’ HELOC options, such as TD Bank, Bank of America, and CMG Financial, noting key features like maximum loan amounts, interest rates, fees, and closing speed.

Read more: https://www.cnbc.com/select/heloc-helped-millennial-compete-with-all-cash-offers/

#RachelCurry #TDBank #CreditKarma #HELOC

Any thoughts on #CreditKarma or alternatives out there?

I used to like using it, but now that it's owned by Intuit (a company I despise), I'd rather look for alternatives, or just do without. XD

#HiveMind / #AskFedi

Get ready to dive into our latest blog post! We’re breaking down the hottest trends, tips, and insights you won’t want to miss. From Business and Startups , we’ve got you covered. Click to read more and join the conversation! #BlogLife #TrendingNow #mustread #creditkarma #prakritim #tge

https://webartrix.blogspot.com/2023/04/unraveling-credit-karma-enigma-ultimate.html

I think I've found the budgeting app I'm going to use for now, and I landed on Rocket Money. The interface works the way I want it to (mostly) and I've already categorized all of September, set budgets, and can see what I have leftover.

Importing all of my accounts was easy enough, and successful, so I can see my financial status in one place.

Setting up budgets was a little more tricky than it should be, since you can add categories, but only in the settings overlay. Why not put it on the budgets page where it's all summarized!

I eventually found out that you can also add budget categories when you go to categorize a transaction. But that's not where I'm expecting to find it.

They also have a cool calendar view and that shows recurring income/spending, which I do like.

I do wish they had an iPad app, but the website will work, of course. Rocket Money also has a variable subscription model, where you can set a price, and I think the range is $0-$20/month.

I tried Intuit's Credit Karma budgeting, but it's so barebones, it wasn't worth it for me. Isn't it great they bought mint and did something with it /s

#budgeting #money #networth #rocketmoney #creditkarma

I hate the Credit Karma ad with the little girl swinging in a closet sized yard!!!!!

She keeps saying "Ow, OW," when she hits the fence.

This ad is abusive!!!!! WHY IS IT ALLOWED????

#creditkarma #FTC
#IONTV
#marketing
#BadMarketing

It should be illegal for #CreditKarma to email you things like "Jason: Something's new with your open accounts."

And it's just an advertising email that follows up with "Just a monthly reminder to check your accounts."

Nothing is fucking new with my accounts, but thanks for making it seem like there was fraud I needed to address right away.

Yay ad revenue from clicks!