Intuit cuts jobs

Mon. June 30, 2008; Posted: 05:08 AM

Jun 30, 2008 (Datamonitor via COMTEX) -- INTU | Quote | Chart | News | PowerRating -- Business and financial software company Intuit has announced plans to cut 7% of its workforce, 575 jobs, as part of a reallocation of resources to key growth areas as part of its Connected Services strategy announced in April.

It said the job cuts will result in a pre-tax charge of approximately $22m, or $0.04 per share in its fourth fiscal quarter.

The company said it plans to focus on both traditional and new markets worldwide by embracing social networking and mobile technology trends through value-added services for its desktop products and innovative online offerings.

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For full details on Intuit Inc (INTU) click here. Intuit Inc (INTU) has Short Term PowerRatings of 6. Details on Intuit Inc (INTU) Short Term PowerRatings is available at This Link.

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