Tax & Financial Planning News

Accounting Technology, August, 2008

INTUIT CUTS JOBS

Intuit is slashing 575 positions, or 7 percent, of its job force in a move designed to redeploy resources out of the back office.

The company said it would take a pre-tax charge of about $22 million for the fourth quarter ended July 31. Intuit said it would also reallocate resources from general and administrative functions to key growth businesses. Intuit, whose revenues are overwhelmingly from the United States, said it would focus on traditional and new markets across the globe and would also follow social networking and mobile technology trends.

HUBBS LEAVES DRAKE

Tim Hubbs, CEO of Drake Software, has left the Franklin, N.C.-based software company to become CEO of Angel Medical Center, which is located in the same town....