THE NEWS WRAP: Intuit sacks 399 employees in company restructure

Tax and financial software company Intuit has laid off 399 people – or almost 5% of its employees – in a restructure.

“Over the last few days we’ve communicated organizational changes that drive greater alignment with the company’s priorities,” an Intuit spokesperson told TechCrunch.

“These changes unfortunately did affect 399 employees overall. All will receive separation packages and assistance with career assistance from Intuit and are eligible to look for another position with the company.”

The American software company is worth more than $US28 billion.

Two self-driving cars involved in a “close call” in California

Two self-driving cars have had what’s been described as a “close call” on a Silicon Valley street earlier this week, according to Re/code.

However, the operators of the two cars, Google and Delphi Automotive, have lashed out at the media for describing the incident as a near-miss – pointing out that the cars did exactly what they were supposed to do to avoid a collision.

Around 8% of self-driving cars in California have been involved in a collision.

Facebook takes a lesson from Snapchat

Facebook will allow users to upload text and stickers to photos in a bid to compete with Snapchat, according to TechCrunch.

Facebook previously tried to buy Snapchat for $US3 billion; however, the fast-growing social media platform turned the company down.

The new photo updates are available to iOS users, who will see a thin line swipe across the photo.

Overnight

The Dow Jones Industrial Average is down 278.94 points, falling 1.54% overnight to 17,856.78. The Aussie dollar is currently trading at around 77.07 US cents.

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