Visa Cuts 2,600 Jobs to Drive Operational Efficiency

Visa announced on July 28, 2026, that it will cut approximately 2,600 jobs, representing about 7% of its total workforce. The reductions primarily affect technology and product teams. CEO Ryan McInerney informed staff in a memo that the move is designed to drive efficiency and allow the company to reinvest in high-potential opportunities, including commercial and money-movement solutions, consumer payments, and value-added services such as B2B offerings and stablecoin.

While the company noted that artificial intelligence has helped accelerate product development and reduce repetitive tasks, it clarified that AI was not the sole driver of the decision. This workforce reduction follows a broader trend among industry peers; Mastercard previously cut its staff by 4%, and Block eliminated nearly half of its workforce in February.

The announcement comes as Visa prepares to report its quarterly financial results following the market close on Tuesday.