Archive · 5 Aug 2026
Visa layoffs hit 2,600 employees, senior executives in AI push
Visa is a company that helps people pay for things with their credit and debit cards.
Visa decided to let go of almost 2,600 people who work for it.
That is about 7 out of every 100 Visa workers around the world.
The company wants to use artificial intelligence, which is smart computer technology that can do tasks people used to do.
Even important leaders lost their jobs, not just regular workers.
Some of those leaders were earning as much as ₹4.36 crore per year.
Workers found out in the early morning when they got emails from the human resources team.
Visa's boss, Ryan McInerney, said the changes will help the company work better.
Visa thinks that in the future, AI helpers will shop and pay for things for people.
Visa hopes this 'agentic commerce' will help the company grow.
Visa is cutting nearly 2,600 jobs, about 7% of its global workforce, as it restructures around artificial intelligence.
The cuts reached senior leadership: six vice presidents, 37 senior directors and 16 chief engineering and architect roles in Foster City.
A WARN notice filed July 31 shows 320 employees affected at Visa's Foster City headquarters across multiple business functions.
CEO Ryan McInerney said most cuts are in technology and product teams as Visa enters the 'era of agentic AI.'
Visa said agentic commerce, where AI agents research, compare, negotiate and buy on behalf of consumers, will fuel future growth.
- Who
- Visa CEO Ryan McInerney and nearly 2,600 employees, including vice presidents, senior directors and senior technical staff.
- What
- Visa is eliminating about 7% of its global workforce to restructure its operations around artificial intelligence.
- When
- Emails about the cuts arrived in the early hours of July 29; a WARN notice was filed on July 31.
- Where
- Visa's Foster City headquarters in California, with the cuts also affecting its global workforce.
- Why
- To improve efficiency and position Visa for growth in what its CEO calls the 'era of agentic AI.'
- Company
- Visa
- Employees affected
- Nearly 2,600 (about 7% of global workforce)
- Foster City layoffs (WARN notice)
- 320 employees
- Senior roles cut in Foster City
- 6 vice presidents, 37 senior directors, 16 chief engineering and architect roles
- Vice president salary range
- $235,700–$458,000 (₹2.24 crore–₹4.36 crore)
- CEO
- Ryan McInerney
- Reason for cuts
- AI-driven restructuring and a shift toward 'agentic AI'
- WARN notice filed
- July 31