Visa to Cut 2,600 Jobs Amid Shift Toward AI and New Ventures

WHO:

Fast Company - Visa Inc. is the organization involved in the layoffs.

Fast Company - Ryan McInerney is the CEO of Visa.

WHAT:

Fast Company - Visa is preparing to lay off about 2,600 workers, which is approximately 7% of its workforce.

Techmeme - The layoffs will primarily affect Visa's product and technology teams.

Fast Company - Visa plans to reinvest some of the savings from the layoffs into commercial and money-movement solutions, consumer payments, and value-added services, including stablecoins.

WHERE:

Fast Company - The layoffs are occurring within Visa Inc., which operates in the payments processing industry.

WHEN:

Fast Company - Visa will report its third-quarter results for fiscal 2026 after markets close on the same day the layoffs were confirmed.

WHY:

Fast Company - The layoffs are part of Visa's strategy to focus on AI-driven efficiency gains and to free up capital for reinvestment in higher potential opportunities.

Fast Company - McInerney stated that the layoffs are intended to position Visa to lead in the transformation of the payments landscape.

HOW:

Fast Company - The job cuts are described as a means to drive efficiency across the company and to evolve how work is done at Visa, with AI playing a significant role in this evolution.

(UPDATED July 28, 2026 17:29 UTC)

Visa Inc. is set to lay off about 2,600 workers, which amounts to roughly 7% of its workforce, primarily impacting its product and technology teams. CEO Ryan McInerney explained that these layoffs are part of a strategy to enhance AI-driven efficiency and to free up capital for reinvestment in higher potential opportunities, including commercial solutions and consumer payments. Visa plans to report its third-quarter results for fiscal 2026 after the markets close on the same day the layoffs were confirmed.