Visa plans to cut about 2,600 jobs, or roughly 7% of its workforce, with the reductions centered on its technology and product teams, according to Bloomberg. CEO Ryan McInerney said the move is meant to improve operating efficiency and redirect resources toward higher-potential areas of the business.
The company said those priority areas include consumer payments, commercial and money movement solutions, and value-added services. Visa said that last category covers stablecoins, cross-border payments, and business-to-business, or B2B, operations. The restructuring places stablecoin-related work alongside other payments initiatives that Visa sees as more attractive for future investment.
Visa also said artificial intelligence is helping it cut repetitive work and speed up product development. At the same time, the company said AI is not the only reason behind the latest layoffs. The job cuts, strategic refocus, and AI comments together show how Visa is reshaping parts of its business while continuing to invest in payments infrastructure tied to digital assets and global money movement.
Visa plans to cut about 2,600 jobs, or around 7% of its total workforce, with the reductions mainly affecting its technology and product teams, according to Bloomberg.
Chief Executive Officer Ryan McInerney said the move is intended to improve operating efficiency and shift resources back into higher-potential businesses.
Stablecoins, cross-border payments and B2B are among the focus areas
Visa said it plans to invest more in consumer payments, commercial and money movement solutions, and value-added services. The company said the last category includes stablecoins, cross-border payments, and business-to-business, or B2B, operations.
AI was cited, but not as the sole driver
Visa also said AI is helping reduce repetitive work and speed up product development, but it is not the only reason for this round of layoffs.
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