Archive · 31 Jul 2026
Visa Cuts 2,600 Jobs Amid Efficiency Push
Visa, a big payments company, decided to let go 2,600 workers, which is about 7% of all its employees.
A former manager said his team was fired even though he had great reviews.
The CEO said the cuts would help the company focus on better projects.
After the announcement, Visa still made a profit that beat what analysts expected.
Many people were shocked and worried about their jobs.
Visa announced 2,600 job cuts, about 7% of its global workforce, as part of a restructuring effort.
The layoffs included product teams, with a manager who had outstanding performance reviews being let go, according to former employee Arnab Das.
Visa CEO Ryan McInerney said the cuts were aimed at improving efficiency and reinvesting in high‑potential opportunities.
The company reported a fiscal Q3 profit that beat Wall Street estimates, with adjusted net income up 8% to $6.3 billion.
Employees and former staff expressed shock, noting that layoffs were not tied to performance and that entire teams were eliminated.
- Who
- Visa employees and former employee Arnab Das
- What
- Layoffs of 2,600 jobs
- When
- 28 July 2024
- Where
- Visa headquarters, San Francisco, USA
- Why
- Cost cutting to improve efficiency
- Company
- Visa Inc.
- Layoffs
- 2,600 jobs (7% of workforce)
- Date
- 28 July 2024
- CEO
- Ryan McInerney
- Q3 Profit
- $6.3 billion