Visa Plans 2,600 Job Cuts as CEO Pushes Efficiency Drive

The payments giant is preparing to eliminate approximately 2,600 positions worldwide, according to a memo CEO Ryan McInerney sent to employees.

The cuts represent roughly 7% of Visa's total headcount, which stood at about 34,100 workers at the close of the company's most recent fiscal year.

Technology and product divisions will bear the brunt of the reductions, with the company consolidating these teams as part of a broader efficiency push.

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, McInerney wrote in the internal message.

The chief executive framed the restructuring as essential to positioning the network for upcoming market shifts, stating the company must keep evolving its operational model.

AI is also helping to accelerate this evolution and shape the way work gets done at Visa, he added.

A source familiar with the situation clarified that artificial intelligence was not the sole driver behind the workforce decision.

Resources freed up by the cuts will flow into three core areas: consumer payments, commercial and money-movement products, and value-added offerings.

Specific investment targets include stablecoin-related projects, enhanced cross-border transaction capabilities, and expanded business-to-business payment solutions.

The strategic pivot reflects broader industry momentum toward digital assets and faster international settlement infrastructure.

The restructuring announcement arrived alongside Visa's quarterly earnings for the period ending 30 June 2026.

The company posted GAAP net income of $5.6bn, or $2.97 per share, marking increases of 7% and 10% respectively versus the prior-year quarter.

Net revenue climbed 14% year-on-year to $11.6bn, driven by higher payments volume, cross-border activity, and processed transaction counts.

Payments volume for the three-month period rose 10% on a constant-dollar basis compared to the same quarter a year earlier.