Visa will cut 7% of its workforce. One of the reasons is the implementation of AI

Visa plans to cut about 2,600 jobs, or roughly 7% of its workforce, as part of efforts to improve efficiency and restructure its business using artificial intelligence, according to Bloomberg.

The layoffs will primarily affect divisions responsible for technology and product development. The company will continue to improve operational efficiency in order to allocate more resources to the most promising areas, according to Visa CEO Ryan McInerney, as quoted by Bloomberg. “To capitalize on emerging opportunities and best position Visa to lead this transformation, we must continue to change the way we work. AI is also helping to accelerate this evolution and is changing the way Visa operates,” McInerney said in a memo to employees, which Bloomberg reviewed.

Visa uses AI to automate repetitive tasks and accelerate product development; however, according to a Bloomberg source, the adoption of this technology was not the only factor behind the layoffs.

Visa intends to allocate the freed-up resources toward the development of consumer payments, solutions for corporate clients, and money transfer services. The company also plans to invest in additional services, including solutions related to stablecoins, cross-border payments, and business-to-business settlements.

At the end of the last fiscal year, Visa employed about 34,000 people. Over the past decade, the company's workforce has more than tripled, according to Bloomberg.

Visa isn't the only payment company cutting staff amid the adoption of AI. Its competitors, PayPal and Block, have also announced layoffs in recent months, seeking to improve business efficiency and adapt their corporate structures to the broader use of artificial intelligence technologies. Block announced in February 2026 that it would cut half its workforce, while PayPal shared plans to reduce its workforce by 20% in May 2026.

This article was AI-translated and verified by a human editor