Visa to cut 7% of workforce, about 2,600 jobs

Visa will eliminate roughly 7% of its global workforce, or about 2,600 roles, according to an internal memo to more than 34,000 employees. The reductions primarily affect technology and product teams as the company reallocates resources to priority areas.

CEO Ryan McInerney told staff the cuts are meant to drive efficiency and free funds for higher‑priority investments. He wrote that he has “deep conviction that we are doing what is right for Visa, our clients and our partners” and described changes to how work is organised as necessary to “capture the opportunities ahead.” McInerney added that “AI is also helping to accelerate this evolution and shape the way work gets done at Visa.”

Visa said it will steer more investment toward consumer payments, commercial offerings and money‑movement services. The company identified value‑added services for reinvestment that include stablecoin capabilities, cross‑border payments and business‑to‑business products.

The firm has already applied artificial intelligence across its transaction network. An independent benchmarking index ranked Visa first among payments companies for institutionalised AI, noting a move from isolated projects to company‑wide capability and documenting nearly 100 AI use cases across the sector.

Alexandra Mousavizadeh, co‑founder of the benchmarking firm, observed that Visa demonstrates sustained, system‑level deployment of AI across operations and the network. Annabel Ayles, the other co‑founder, noted that payments companies have not yet disclosed group‑level returns on AI investments in the way some banks have, and she described the lack of aggregate AI reporting as increasingly conspicuous.

A 2025 survey of financial institutions found rising AI productivity gains at banks, with 59% of surveyed firms reporting improvements in the prior 12 months compared with 32% the year before. Visa’s internal message linked increased AI use to plans for operational change and greater efficiency.

The memo did not include a public timetable for the layoffs or detail severance terms. Visa described the workforce changes as part of ongoing efforts to align resources with its strategic priorities and prepare for future product and network investments.