Visa is cutting about 2,600 jobs as it reshapes its workforce and shifts resources towards areas with stronger growth potential.
The planned reduction amounts to around 7% of the company’s employees, Reuters reported, citing a Visa spokesperson. Technology and product teams will bear most of the cuts.
Visa reported approximately 34,100 employees at the end of fiscal 2025, an increase of 8% from the previous year.
Chief Executive Ryan McInerney told employees that the changes would improve efficiency and free up resources for higher-potential opportunities.
McInerney also pointed to artificial intelligence as a tool that is accelerating changes in how work is carried out across Visa.
The latest announcement comes after a separate organisational review generated US$213 million in severance expenses during fiscal 2025.
Visa attributed those costs to a wider effort to redirect resources towards businesses with stronger long-term growth prospects. Its annual report did not disclose how many employees were affected.
The company had also planned to eliminate about 1,400 employee and contractor positions in 2024 as it streamlined its international operations.
Featured image: Edited by Fintech News Singapore, based on image by Drazen Zigic via Magnific
