Visa plans to eliminate about 2,600 jobs, or roughly 7% of its workforce, as the San Francisco payments giant reorganizes its technology and product operations and expands its use of artificial intelligence
Chief Executive Officer Ryan McInerney informed employees of the cuts in a memo Tuesday, saying Visa needed to become more efficient and shift real
“To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work,” McInerney wrote, according to excerpts reported by multiple media outlets. “AI is also helping to accelerate this evolution and shape the way work gets done at Visa.”
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A Visa spokesperson confirmed the planned reductions to Reuters. Most of the cuts will fall within the company’s technology and product teams, although positions elsewhere in the company are also expected to be affected
The company has not disclosed how many Bay Area employees will lose their jobs
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Visa opened its global headquarters at Mission Rock in San Francisco in 2024, with nearly 1,000 employees working there at the time. It also maintains a large Foster City campus that houses many of its technology and product employees
Affected workers were expected to begin receiving layoff notifications Tuesday
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Visa employed about 34,100 people worldwide at the end of its 2025 fiscal year, an increase of 8% from the previous year, according to its annual report. Cutting 2,600 positions would amount to slightly more than 7% of that reported total
McInerney said Visa intended to reinvest in what the company considers its highest-potential opportunities. Those areas include cross-border transactions, payments between businesses, services for affluent consumers, geographic expansion and digital-payment products involving stablecoins, according to the employee memo
“As a result of the choices we have made over the past few years, we are entering a new era in commerce with a business that has real momentum,” McInerney wrote
Artificial intelligence was a significant factor in the reorganization but was not the sole reason for the reductions
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Visa has been steadily incorporating AI into its operations and products. In its 2025 annual report, the company said nearly 26,000 employees had used an internal generative AI tool to conduct more than 261,000 chats since its introduction in March of that year
Mastercard announced earlier this year that it would eliminate about 4% of its workforce as it redirected spending toward other priorities, while financial technology company Block announced plans to cut about 4,000 jobs
Visa’s reductions also follow previous Bay Area layoffs. In late 2024, the company disclosed plans to eliminate hundreds of positions in San Francisco and San Mateo, including numerous management jobs
The latest cuts were announced the same day Visa was scheduled to release its fiscal third-quarter earnings. The company reported $40 billion in net revenue during fiscal 2025 and remains one of the world’s largest payment networks, operating in more than 200 countries and territories
