Visa Announces 2,600 Job Cuts as Part of Workforce Restructuring
Visa is cutting approximately 2,600 jobs—about 7% of its workforce—with the majority reductions affecting technology and product teams. While artificial intelligence (AI) plays a role in reshaping workflows, CEO Ryan McInerney emphasized that cost optimization for reinvestment into emerging areas like stablecoins, cross-border payments, and B2B services is also driving the move. The company had 34,100 employees at the end of its last fiscal year. This restructuring aligns with broader trends in fintech, as companies such as PayPal and Block have similarly announced significant workforce reductions to streamline operations and reallocate resources toward innovation.
Topics: AI adoption fintech layoffs workforce evolution