Visa cuts 2,600 jobs in AI-focused restructuring

Global payments giant Visa has eliminated approximately 2,600 jobs, representing about 7% of its global workforce, as part of a strategic restructuring focused on artificial intelligence. The layoffs, which impacted employees in multiple countries including India, were communicated to many staff in the early hours of July 29, with termination emails reportedly arriving between 4 a.m. and 5 a.m. local time.

The cuts have significantly affected Visa's operations in India, a key hub where the company employs more than 3,500 people across technology and corporate centers in Bengaluru, Mumbai, Chennai, and Hyderabad. While Visa has not disclosed the exact number of layoffs in India, reports indicate that technology and product teams bore the brunt of the reductions. In one India-based team of 28 employees, 10 members were laid off, including senior directors, engineering managers, and long-serving staff with nearly two decades of experience.

Affected employees were offered severance packages and notice periods ranging from 15 to 30 days, though several reported that their access to company systems was revoked within days, requiring the quick return of laptops and identification...