Visa to cut 2,600 jobs as payments giant pushes for efficiency

AI is accelerating the shift, but it isn’t the only driver

Artificial intelligence is playing a role in the transition. The technology has helped streamline routine tasks and speed up product development at Visa, though the company indicated AI wasn’t the sole factor behind the decision.

“AI is also helping to accelerate this evolution and shape the way work gets done at Visa,” McInerney wrote.

The capital freed up by the job cuts is expected to flow into consumer payments, commercial and money-movement solutions, and value-added services that span stablecoin, cross-border, and business-to-business products, Bloomberg reported.

The announcement extends a pattern of AI-driven tech job cuts that hit a two-year high earlier this year. Through the first half of 2026, U.S. employers announced 443,604 planned job cuts, with artificial intelligence remaining the leading cited reason for workforce reductions, according to outplacement firm Challenger, Gray & Christmas.

Payments and fintech rivals are making similar moves

Visa isn’t alone. Earlier this year, Mastercard announced plans to cut 4% of its global workforce, citing the need to refocus investments. Block said in February it planned to shed roughly 4,000 positions, representing close to half of its total headcount. PayPal Holdings has also announced reductions.