Visa Announces Workforce Reduction of 2,600 Employees
Visa is set to reduce its workforce by approximately 7%, or around 2,600 employees. The cuts are primarily focused on technology and product teams as part of an effort led by CEO Ryan McInerney to improve efficiency and reinvest in high-potential opportunities such as stablecoins, cross-border capabilities, B2B offerings, and value-added services. The decision comes alongside Visa's latest quarterly results. For the three months ended June 30, 2026, GAAP net income rose by 7% year-on-year to $5.6 billion ($2.97 per share), while net revenue increased by 14% to $11.6 billion due to higher payments volume and cross-border transactions. McInerney emphasized the role of AI in transforming how work is done at Visa, though a source indicated that AI was not the sole reason for the layoffs.
Topics: AI Adoption Efficiency Measures Layoffs Restructuring