SAN FRANCISCO: Visa layoffs will eliminate about 2,600 positions, or 7% of its global workforce, as Visa Inc. (NYSE: V) seeks greater efficiency and shifts resources toward higher-growth businesses.
A company spokesperson confirmed the planned reductions on Tuesday, July 28, Reuters reported.
Most job cuts will affect Visa’s technology and product teams. The company will also reduce positions across other departments.
Chief Executive Officer Ryan McInerney told employees that rapidly changing technology had created a major turning point for the payments industry.
“To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work,” McInerney wrote in the internal memorandum.
Visa is eliminating about 2,600 jobs, or roughly 7% of the workforce, as Chief Executive Officer Ryan McInerney seeks to make the firm more efficient.
Paige Smith reports https://t.co/mBIl1kQ2Fz pic.twitter.com/EQseo6vYRo
— Bloomberg TV (@BloombergTV) July 28, 2026He said artificial intelligence was accelerating that transition and changing how employees perform their work.
AI contributed to the restructuring but was not its only cause, Reuters reported, citing Bloomberg and a person familiar with Visa’s decision. The company has used AI to automate repetitive processes and accelerate product development.
Read: Microsoft Layoffs Cut 4,800 Jobs as Xbox Restructures
Visa plans to redirect savings toward cross-border payments, business transactions, services for affluent customers, geographical expansion and digital-payment products involving stablecoins.
The company employed approximately 34,100 people across 86 countries and territories during the financial year ended September 30, 2025, according to its 2025 corporate responsibility report.
Affected employees began receiving notifications on July 28.
