Intuit Chops 120 In Woodland Hills

Financial software developer Intuit is cutting 120 employees in Woodland Hills, according to a state Worker Adjustment and Retraining Notification, part of a larger cut involving locatoins in Illinois, Virginia, and Arizona. The layoffs--first uncovered by the San Fernando Business Journal--apparently are due to a shift at the company towards more cloud-based services. Intuit had sold much of its Woodland Hills operations, Intuit Financial Services, to private equity firm Thoma Bravo back in July of 2013. The cuts apparently are slated for September 15th.