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 at the intersection of technology and media. He also writes at Silicon Valley Watcher. See his full profile and disclosure of his industry affiliations.
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