Financial services provider Intuit Inc. will lay off 120 employees at its Woodland Hills location as it moves to cloud-based services.
The layoffs are effective Sept. 15, according to the Worker Adjustment and Retraining Notification filed with the state Employment Development Department.
Woodland Hills is one of multiple Intuit locations nationwide reducing its staff, including four others in California. Intuit is also cutting 104 employees in Arlington Heights, Ill. where a facility is closing; 159 positions in Stafford County, Va.; and 200 positions in Tucson, Ariz.
Intuit spokeswoman Diane Carlini said the layoffs follow changes to be more efficient as it shifts its business model away from selling computer discs to a cloud-based software licensing model.
“While our decision to change our approach to our small business strategy resulted in job loss in Woodland Hills, we continue to invest in and expect the site to remain an important regional hub for the company,” Carlini said.
Intuit, based in Mountain View, develops financial and accounting software, including the popular TurboTax and QuickBooks, used by individuals and small businesses, and provides payroll services. The company has operations in Arizona, California, Massachusetts, Nevada, Texas, Virginia, and Washington, D.C.
Intuit laid off 65 employees last September in Woodland Hills that was connected with the sale of the financial services division to a private equity firm.