Visa Cuts 2,600 Roles in Tech and Product as CEO Cites AI-Led Restructuring
Visa Cuts 2,600 Roles in Tech and Product as CEO Cites AI-Led Restructuring #
Visa is eliminating approximately 2,600 positions, about 7% of its total workforce, with cuts concentrated in its technology and product divisions as the payments network shifts toward artificial intelligence-driven operations and higher-growth business lines.
Chief Executive Ryan McInerney announced the cuts in an internal memo on Tuesday. “To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work,” McInerney wrote, according to CNBC, which confirmed the memo with the company. McInerney also wrote that AI is “helping to accelerate this evolution and shape the way work gets done at Visa.”
Visa had approximately 34,100 employees at the close of its most recent fiscal year. The company plans to redirect savings from the cuts into areas it considers highest priority: affluent customer services, cross-border payments, business remittances, commercial payments, stablecoin infrastructure, and broader geographic expansion. A person with direct knowledge of the matter told CNBC that AI was a significant factor behind the decision, though not the only one, and that the restructuring also reflects a broader strategic realignment rather than a purely automation-led move.
Visa reported fiscal third-quarter earnings the same day. Net revenue climbed 14% year over year to $11.6 billion, GAAP net income rose 7% to $5.6 billion, and cross-border volume grew 13%. The cuts come despite strong financial results, not because of deteriorating ones. Visa also returned $6.2 billion to shareholders through buybacks and dividends in the quarter. The company’s shares rose roughly 2% in premarket trading following the news.
Other payments companies have also cut jobs in 2026. Mastercard reduced its headcount by around 4% earlier in the year, and Block eliminated nearly 4,000 roles in February. Both companies cited efficiency gains from AI even as revenues stayed strong. At Visa, the concentration of cuts in engineering and product functions suggests the company believes generative AI and related tools can handle meaningful portions of the technical work that once required large specialist teams.
In the memo, McInerney wrote: “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.”
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