The payment giant will eliminate 2,600 roles, primarily in tech and product teams, to reinvest in high-growth areas.
Visa will cut approximately 2,600 jobs, representing 7% of its workforce, as part of a broader efficiency drive. The reductions target technology and product teams, according to internal communications reviewed by sources.
The company reported 34,100 employees at the end of its last fiscal year. CEO Ryan McInerney stated the moves aim to reinvest in consumer payments, commercial solutions, and value-added services, including stablecoin initiatives and cross-border capabilities.
Visa’s latest quarterly results showed GAAP net income of $5.6bn, or $2.97 per share, up 7% and 10% year-on-year, respectively. Net revenue for the quarter also rose, though full figures were not disclosed.