Visa confirms it will cut about 2,600 jobs, roughly 7% of its workforce, as part of an efficiency push led by CEO Ryan McInerney. Multiple reports say the cuts are communicated to employees through a CEO memo and that Visa acknowledges details of the memo. The reductions focus primarily on technology and product teams, which several outlets describe as the hardest hit. Visa’s workforce is described as about 34,000 employees, making the 2,600 figure correspond to the reported 7% level.
Visa frames the move as more than routine cost cutting. It says it will reinvest some of the savings into areas it views as higher priority, including commercial and money-movement solutions, consumer payments, and value-added services such as stablecoins, according to reports that cite earlier disclosures and coverage.
The company also links the decision to AI-driven changes in how work is done, with McInerney stating AI is accelerating the company’s evolution. Outlets note Visa is not alone in the broader payments and fintech sector, where other companies have recently announced layoffs tied to efficiency and AI-related shifts.
