India, July 28 -- Tuesday, Visa Inc. (V) intends to lay off 7 percent of its workforce, or roughly 2,600 jobs, mainly in its technology and product divisions, a company spokesperson stated.
In a staff memo seen by Bloomberg, Chief Executive Officer Ryan McInerney stated that the layoffs are expected to make the payments company more efficient in the AI era and stay ahead of its competitors.
"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, Bloomberg reports.
As per the company's 2025 annual report, Visa had around 34,100 employees, up 8 percent from th...