Visa CEO Ryan McInerney Announces Plan to Cut 2,600 Jobs to Streamline Operations and Invest in Growth
Visa CEO Ryan McInerney announced that the company plans to eliminate approximately 2,600 positions, representing about 7% of its global workforce. The layoffs will primarily target technology and product operations as the company reorganizes to become more efficient and better position itself for future growth. Ryan McInerney noted that artificial intelligence is a significant factor in this evolution, helping to accelerate how work is completed. While AI is a major driver, it is not the sole reason for the cuts. The company intends to reinvest resources into high-potential areas such as cross-border transactions, business payments, stablecoins, and geographic expansion. These reductions follow a period of rapid hiring and come as other financial technology companies like Mastercard and Block also undergo workforce reductions. Visa reported $40 billion in net revenue during fiscal 2025 and remains a of the world's largest payment networks.