Visa cuts 2,600 jobs, 7% of workforce, in restructuring

Visa announced on Tuesday, July 28, 2026, that it is eliminating approximately 2,600 positions, representing about 7 percent of its global workforce, in a major restructuring focused on efficiency and future growth areas. The job cuts, the company's largest in recent memory, will primarily affect its technology and product operations teams.

The payments giant confirmed the layoffs as it prepared to report quarterly earnings after the market close. CEO Ryan McInerney communicated the decision to employees in a memo, stating he had deep conviction that the move was right for the company, its clients, and its partners. He framed the restructuring as a necessary evolution to drive efficiency and reinvest in high-potential opportunities.

While artificial intelligence is accelerating changes within the company by reducing repetitive tasks and shortening product development cycles, officials emphasized that AI was not the sole driver of the layoffs. The company stated it also aims to redirect capital and personnel toward targeted growth areas. These include services for affluent customers, expanding cross-border payment volumes, business-to-business transactions, stablecoin...