Intuit Pauses Hiring at Credit Karma Unit on ‘Revenue Challenges’
- Star segment has been slowing with consumer budgets strained
- Company set to report first-quarter earnings at end of month
Credit Karma, which provides credit scores and connects users to loans, was acquired by Intuit for $7.1 billion in February 2020.
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Intuit Inc. is pausing hiring in its Credit Karma unit as souring business sentiment is slowing the pace of lending.
Almost all new hiring in the division will be paused as the company sees “revenue challenges due to the uncertainty of the economic environment,” Chief People Officer Colleen McCreary wrote in a letter to employees last Sunday that was shared with Bloomberg. Departing workers will continue to be replaced, and there will be no pay cuts, she wrote.