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Intuit Cuts 300 JobsSilicon Valley/San Jose Business Journal
June 5, 2009
Intuit Inc. said Friday it said it was cutting 4 percent of its work force, letting go 300 employees of its 8,200-strong workers.
Half of those who were given 60-day notices are at the Turbo Tax maker's Mountain View headquarters.
The company said the move wouldn't have a material impact on its results. "We manage our resources on an ongoing basis," it said in a statement. "These changes support our long-term growth strategy."
Intuit (NASDAQ:INTU) last month reported third quarter net income of $484.8 million, or $1.47 per share, compared with $444.2 million, or $1.33 per share, in the year-earlier period.
On Tuesday Intuit said it agreed to buy Palo Alto-based PayCycle Inc. for $170 million.
http://www.bizjournals.com/sanjose/stories/2009/06/01/daily82.html
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