Visa layoffs 2026: Payments group to cut about 2,600 jobs

Visa layoffs 2026 will affect about 2,600 roles, equal to roughly 7% of the payments company’s workforce, according to a memo confirmed by CNBC. The reductions, concentrated mainly in technology and product operations, come before Visa is scheduled to report quarterly results after the market closes Tuesday.

CNBC reported that Bloomberg earlier disclosed the memo. Visa had about 34,100 employees at the end of its last fiscal year, according to CNBC.

Chief Executive Ryan McInerney told employees in the memo that the company needs to keep changing how it works to pursue new opportunities and position itself for shifts in commerce. “AI is also helping to accelerate this evolution and shape the way work gets done at Visa,” McInerney wrote, according to CNBC.

A person with direct knowledge of the matter told CNBC that artificial intelligence was a significant factor in the job cuts, though not the only reason. The person declined to be named while discussing the internal changes.

Why is Visa cutting jobs?

Visa is reducing headcount as it seeks to make operations more efficient and redirect resources toward parts of the business it sees as having stronger growth potential, according to the memo and the person cited by CNBC. The company is also incorporating AI into work that can include technical functions such as software development, a shift occurring across parts of the financial and technology industries, CNBC reported.

The planned reductions show how large financial technology companies are reassessing staffing after years of expansion and as automation tools become more capable. In Visa’s case, the cuts are mostly tied to technology and product operations, the memo said, placing the changes close to areas where AI may alter day-to-day work.

McInerney framed the move as part of a broader effort to position Visa for what he described as a new phase in commerce. In the memo, he cited the company’s recent choices, financial performance and client satisfaction as evidence that the business has momentum, according to CNBC.

Where Visa plans to reinvest

The person with direct knowledge told CNBC that Visa intends to put more resources into areas including affluent customers, cross-border activity, business payments, stablecoins and geographic expansion. The company’s focus on these areas points to an effort to capture more transaction flows beyond its core consumer card network.

Cross-border payments involve transactions where the payer and recipient are in different countries, an area that can generate revenue from international commerce and travel. Stablecoins are digital tokens designed to maintain a steady value, often by linking their price to a currency such as the U.S. dollar.

Visa’s quarterly earnings report, due after Tuesday’s closing bell, will give investors a fresh look at revenue trends, spending volumes and management’s cost outlook. The company’s shares were quoted by CNBC as up 0.79% at the time shown in its market data.

This story draws on original reporting from CNBC.