Visa to Cut 2,600 Jobs as AI Reshapes Payments Technology Work

Visa announces major workforce reduction

Visa is eliminating approximately 2,600 positions—roughly 7% of its total workforce—as part of a strategic reorganization aimed at streamlining operations and reallocating investment toward growth priorities, according to an internal memo confirmed by CNBC.

The cuts will primarily affect employees in technology and product operations. Visa employed about 34,100 people at the end of its most recent fiscal year. Affected workers will begin receiving notification on Tuesday, along with information about transition assistance.

AI cited as accelerating factor

In the memo, CEO Ryan McInerney directly addressed artificial intelligence's influence on the decision, stating that "AI is also helping to accelerate this evolution and shape the way work gets done at Visa." The technology is enabling the company to automate certain technical functions, including aspects of software development.

However, a person with direct knowledge of the matter told CNBC that while AI played a significant role in the workforce reduction, it was not the sole driver behind the layoffs. The restructuring reflects broader strategic choices about where Visa wants to concentrate its resources.

Why it matters

Visa's announcement represents one of the clearest examples yet of how AI adoption is translating into concrete workforce decisions at major financial infrastructure companies. As the operator of the world's largest payments network, Visa's strategic choices around automation and staffing often signal broader industry trends. The move also illustrates how companies are attempting to balance cost discipline with investment in emerging opportunities—a tension that will likely define corporate strategy across sectors as AI capabilities mature.

Strategic pivot toward growth areas

The restructuring is designed to free up resources for what Visa considers higher-priority growth areas. These include serving affluent customers, facilitating cross-border transactions, expanding business-to-business payments, exploring stablecoin applications, and pursuing geographic expansion.

"To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work," McInerney wrote in the memo. He characterized the company as "entering a new era in commerce" with strong financial momentum and client satisfaction.

Visa is scheduled to report its quarterly earnings after market close on Tuesday.

The workforce reduction follows a pattern across both financial services and technology sectors, where companies are increasingly deploying AI to handle tasks previously performed by human employees while simultaneously working to control costs after years of aggressive hiring.

The details were first reported by Bloomberg and confirmed by CNBC.