Visa is eliminating roughly 2,600 positions, about 7% of its entire workforce, in a sweeping restructuring effort driven by CEO Ryan McInerney’s push to make the company leaner and faster. The cuts land primarily on tech and product teams.
What’s driving the cuts
McInerney pointed to advancements in artificial intelligence as a key factor reshaping how Visa operates. In a memo to employees, the CEO emphasized the need to evolve work processes, essentially acknowledging that AI can handle tasks that previously required human headcount.
Tech and product roles, the teams responsible for building and maintaining Visa’s digital infrastructure, took the biggest hit. The company believes it can do more with fewer engineers, likely by deploying AI tools that accelerate development cycles and reduce the need for large teams writing code or managing product roadmaps.
The stablecoin angle Visa isn’t cutting
