Visa Cuts 2,600 Jobs in Major AI Restructuring

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Payments giant Visa announced plans to eliminate approximately 2,600 positions, accounting for roughly 7% of its global workforce. The job reductions will primarily target the company's technology and product teams. Chief Executive Officer Ryan McInerney detailed the restructuring in an internal staff memo. McInerney stated that the company is driving operational efficiency to reinvest capital into higher-potential opportunities, including consumer payments, commercial solutions, stablecoin initiatives, and cross-border business. The memo noted that artificial intelligence has helped accelerate workflow evolution and streamline product development at the firm, though insiders indicated AI was not the sole driver behind the workforce reduction. Prior to the announcement, Visa employed approximately 34,100 people globally. The cuts affect multiple levels of the organization, including senior management and engineering leadership roles.