The payments giant will reduce its workforce by 7% to reinvest in high-growth areas like AI and cross-border solutions.
Visa is slashing approximately 2,600 positions, or 7% of its workforce, as CEO Ryan McInerney seeks to enhance operational efficiency. The reductions target technology and product teams, aiming to redirect capital toward consumer payments, commercial solutions, and value-added services such as stablecoin and B2B products.
The company employed roughly 34,100 workers at the end of its last fiscal year. While artificial intelligence is accelerating workflow changes, it was not the sole driver of the layoffs. Visa follows other fintech firms in trimming staff amid shifting market demands.
Visa shares rose 2.1% in premarket trading ahead of its quarterly earnings report after U.S. markets close Tuesday.