Visa cuts about 7% of its workforce

6 min read

Visa announced on 28 July that it will cut about 7% of its global workforce, roughly 2,600 roles, chiefly in technology and product teams, with CEO Ryan McInerney linking the move to efficiency and the emergence of agentic AI. The company had pulled back contractor hiring, reduced vendor spending and later imposed token limits on AI tools after heavy usage, and severance packages and notice periods varied. The layoffs hollowed out whole teams in India and follow similar payments-industry reductions, indicating broader reallocation of headcount as firms integrate more autonomous AI capabilities.

Visa eliminated about 7% of its global workforce.