Visa to cut about 2,600 jobs, roughly 7% of staff, mainly in technology and product teams

Visa announced on July 28, the same day as its fiscal third-quarter results, that it will eliminate about 2,600 roles, roughly 7% of its workforce. Most of the cuts fall in technology and product teams, and the company booked $563 million of severance in the quarter. CEO Ryan McInerney tied the restructuring to efficiency and AI, while saying AI was not the only reason. The company booked the charge in the same quarter as the earnings report.

• About 2,600 roles cut, roughly 7% of the workforce
• Most cuts in technology and product teams
• $563M severance recorded in fiscal Q3 2026
• CEO cited efficiency and AI; savings to fund cross-border, commercial and stablecoin work