Intuit Inc, a maker of software that helps with tax-preparation, said it has laid off 399 people.
The company had about 8,000 full-time employees as of July 31, 2014.
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The affected employees will receive separation packages, career assistance from Intuit and will be eligible to look for another position within the company, an Intuit spokesperson said.
The news was first reported by technology news website TechCrunch.
Patrick Barry, who leads customer communication software maker Demandforce, has also stepped back, though he remains with Intuit, the spokesperson said.
Intuit acquired Demandforce in May 2012. Barry took over the role of vice president and general manager at Demandforce last June, according to his LinkedIn profile.
(Reporting By Lehar Maan in Bengaluru; Editing by Joyjeet Das)