Visa Cuts 2,600 Jobs in AI-Led Restructuring, Tech & Product Teams to be Affected: Report

Visa has announced plans to cut approximately 2,600 jobs, representing around 7% of its global workforce, as the payments company restructures its operations to improve efficiency and increase investments in artificial intelligence (AI) and other growth areas.

The layoffs will primarily affect employees in Visa’s technology and product divisions, although other functions will also see workforce reductions. The move comes as financial services and technology companies increasingly reorganise operations to integrate AI while reallocating resources towards strategic priorities. 

In a memo to employees, Visa Chief Executive Officer Ryan McInerney said the company was making difficult decisions to position itself for long-term growth.

“I have deep conviction that we are doing what is right for Visa, our clients and our partners as we continue to focus on driving efficiency across the company in order to reinvest in our highest potential opportunities,” McInerney wrote, as cited by Reuters. 

He added that Visa must continue evolving the way it operates to capture future opportunities, with AI helping accelerate that transformation. However, people familiar with the matter told media outlets that AI was only one factor behind the restructuring, alongside broader efforts to streamline operations and redirect investment into faster-growing businesses such as cross-border payments, commercial payments and digital commerce infrastructure. 

According to Visa’s 2025 Annual Report, the company employed around 34,100 people at the end of fiscal 2025, an increase of about 8% from the previous year. The latest cuts follow similar workforce reductions across the payments industry, including rival Mastercard, which announced plans earlier this year to reduce around 4% of its global workforce, while fintech company Block also eliminated roughly 4,000 roles. 

The restructuring comes despite Visa continuing to report strong business performance. The company recently posted third-quarter fiscal 2026 revenue of $11.6 billion, up 14% year-on-year, while adjusted earnings also exceeded analysts’ expectations. Executives said the company intends to reinvest savings from the layoffs into strategic growth initiatives rather than treat the reductions as a response to weakening demand. 

Analysts at Evercore ISI also downplayed the significance of the workforce reduction, describing it as a routine reallocation of capital and talent rather than a sign of business weakness.