- Visa is cutting approximately 2,600 jobs, equating to 7% of its global workforce, to enhance efficiency and redirect investments towards AI and other high-growth businesses.
- CEO Ryan McInerney stated in a memo that the company is making difficult decisions to position itself for long-term growth and reinvest in highest-potential opportunities.
- The layoffs predominantly impact Visa's technology and product divisions, with some teams let go entirely and even senior management affected.
- Affected employees, including security engineering director Jinal Doshi (on an H1-B visa), shared their layoff experiences on LinkedIn and X.
- Over 124,000 tech employees have been laid off across 253 companies this year, reflecting a significant trend in the industry.
Visa is laying off 2,600 employees, representing 7% of its global workforce, as part of a restructuring to improve efficiency and focus on AI investments.
The layoffs primarily affect the technology and product divisions, with some teams being completely disbanded.45
CEO Ryan McInerney emphasized in a memo, “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.”3
Before the layoffs, Visa employed about 34,100 people globally. The decision reflects a growing trend in the financial services sector, where companies are reorganizing to integrate AI and prioritize strategic investments.
Jinal Doshi, a director at Visa, shared on LinkedIn that she was among those affected, stating, “I am urgently looking for a new role.”
Another former employee, Arnab Das, noted that his entire team was laid off despite having received outstanding performance reviews.
This move comes amid a broader wave of layoffs in the tech industry, with over 124,000 tech employees let go across 253 companies this year alone, according to layoffs.fyi.8
“Affected employees include security engineering director Jinal Doshi, who said on LinkedIn she was on an H1-B visa and urgently needs a new role after seven years at Visa; Arnab Das said his entire team, including his manager, was let go. layoffs.fyi counts over 124,000 tech workers laid off across 253 companies this year.”
