Visa plans to cut 7% of workforce as CEO Ryan McInerney emphasizes efficiency and AI's role in reshaping work.

Visa plans to eliminate about 2,600 jobs, representing roughly 7% of its workforce, as part of a strategy to enhance efficiency amid a competitive payments landscape. CEO Ryan McInerney stated that the layoffs will mainly impact technology and product teams, as the company seeks to reinvest in high-potential opportunities.¹

In a staff memo, McInerney expressed his conviction that these changes are necessary for Visa's future, stating, "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." The decision comes approximately six months after similar workforce reductions by Visa's closest competitor.

The integration of AI has played a role in this restructuring, helping to eliminate repetitive tasks and accelerate product development. However, sources indicate that AI was not the sole factor behind the layoffs. McInerney noted, "AI is also helping to accelerate this evolution and shape the way work gets done at Visa."

As of the end of fiscal 2025, Visa employed about 34,100 people, marking an 8% increase year-over-year. The company aims to focus on growth areas such as affluent customers, cross-border activity, business payments, stablecoins, and geographic expansion, as it navigates the evolving payments industry.³