July 23rd, 2008
Intuit cut 575 jobs - is this “user generated unemployment?”
The other day I reported that Brad Smith, the CEO of Intuit, had asked his managers to see which jobs could be cut because there were volunteers among Intuit’s 50m users that were doing a better job — and for free. These seem to be the emerging business benefits from social media - user generated unemployment.
Please see: Will social media lead to user generated unemployment?
Just a few weeks ago Intuit cut 7 per cent of its workforce representing 575 employees. I wonder how much of that was “user generated.” Probably not much, which means more cuts are likely to follow.
Here is an excerpt from Intuit’s press release:
The company plans to focus on both traditional and new markets across the globe, while embracing social networking and mobile technology trends.
[Hat tip Elliott Ng]
Tom Foremski reports on the business and culture of Silicon Valley and beyond. And also blogs at SiliconValleyWatcher.com See his full profile and disclosure of his industry affiliations.
