Visa plans to eliminate around 7% of its global workforce, affecting nearly 2,600 employees, with the majority of layoffs concentrated in its technology and product teams.
CEO Ryan McInerney said the overhaul will help Visa redirect resources toward artificial intelligence, innovation and other strategic growth areas.
The move follows similar workforce reductions by Mastercard and Block, as payments and fintech companies increasingly invest in AI and cost optimisation.
Visa Restructures for 'Next Phase of Growth,' Lays Off 2,600 Employees Worldwide
Visa will cut around 2,600 jobs, or 7% of its global workforce, as the payments giant restructures its operations to prioritise artificial intelligence, streamline costs and position itself for long-term growth
Summary
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Global payments giant Visa will lay off around 7% of its global workforce, impacting nearly 2,600 employees, as the company restructures its operations to invest more heavily in artificial intelligence (AI) and other long-term growth initiatives.
The job cuts will primarily affect employees in Visa's technology and product teams, according to an internal memo sent by Chief Executive Officer Ryan McInerney to staff.
Restructuring for Future Growth
In the memo, McInerney said the restructuring is aimed at positioning Visa for its "next phase of growth" as the payments industry undergoes rapid technological transformation.
He noted that the company is reallocating resources to areas with stronger long-term growth potential while streamlining operations to remain competitive in an evolving digital payments landscape.
McInerney also said Visa must continue adapting its business to meet changing customer needs and advances in payment technologies.
AI Becomes a Strategic Priority
According to a Bloomberg report, the layoffs form part of a broader strategy to optimise costs and redirect investments toward key priorities, particularly artificial intelligence.
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Like many technology and financial services firms, Visa is increasingly incorporating AI to automate routine tasks, improve operational efficiency and accelerate product development.
The shift reflects a broader industry trend, with companies reassessing workforce requirements as AI becomes more deeply embedded in business operations.
Part of a Wider Industry Trend
Visa employed 34,100 people globally at the end of 2025, according to its latest annual report, marking an 8% increase from the previous year.
The company's workforce reduction mirrors similar moves by other payments and fintech firms seeking to balance investment in emerging technologies with cost discipline.
Earlier, Mastercard announced plans to reduce its workforce by around 4% while redirecting resources toward strategic initiatives. Fintech company Block has also eliminated nearly 4,000 jobs as part of its restructuring efforts.
Despite the layoffs, Visa continues to maintain a strong position in the global payments industry, operating in more than 200 countries and territories.
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Unlike traditional lenders, Visa's business model relies on processing transaction volumes rather than assuming credit risk, providing it with relatively resilient revenue streams.
McInerney described the current period as "a new era in commerce," adding that Visa intends to strengthen its leadership position by investing in technologies and businesses that can drive sustainable long-term growth.