Visa Cuts 2600 Jobs Globally Amid AI-Powered Restructuring
Visa has announced a major restructuring effort that will result in the layoff of nearly 2,600 employees worldwide. This represents approximately 7% of the company's global workforce.
The job cuts have affected multiple regions, including India, where several workers reportedly received layoff notices early in the day. While Visa hasn't disclosed the exact number of employees impacted in the country, reports suggest that professionals from technology and product teams were among those asked to leave.
Visa executives claim the restructuring is designed to make the organization more agile while increasing investments in AI-powered products, automation, and digital payment technologies. The workforce reduction has primarily affected technology, engineering, and product-related functions, with some employees holding senior positions that had spent several years with the company.