Visa will cut about 7 per cent of its global workforce, eliminating roughly 2,600 jobs, the payments company confirmed on Tuesday as it steps up an efficiency programme and redirects investment towards higher-growth areas while expanding its use of artificial intelligence.

The reductions will primarily affect technology and product teams and come about six months after rival Mastercard announced plans to cut 4 per cent of its workforce. According to Visa's 2025 annual report, the company employed about 34,100 people at the end of its last fiscal year, meaning the latest move will affect around one in 14 employees.

Ryan McInerney, Visa's chief executive, said the restructuring was intended to improve the company's long-term position rather than respond to short-term pressures. "I have deep conviction that we are doing what is right for Visa, our clients and our partners as we continue to focus on driving efficiency across the company in order to reinvest in our highest potential opportunities," he said in a staff memo, excerpts of which were confirmed by a company spokesperson. He added: "AI is also helping to accelerate this evolution and shape the way work gets done at Visa."

According to CNBC, employees affected by the cuts began being notified on Tuesday and will receive transition support. The broadcaster reported, citing a person with direct knowledge of the plans, that Visa intends to increase investment in areas including affluent customers, cross-border payments, business payments, stablecoins and geographic expansion, while AI was an important factor behind the changes but not the only reason.

Visa was due to publish quarterly earnings after the market close on Tuesday and has exceeded Wall Street expectations in all but one quarter over the past two years. The company, which generates revenue from payment volumes rather than lending, has benefited from resilient consumer spending and is viewed as relatively insulated from credit risk.

Analysts at Evercore ISI said in a note that the job reductions did not materially change their view of the business. They wrote: "We don't view this as a material event, as it is just one of the best-run companies in the world tweaking headcount and costs and reallocating money and resources into areas of higher growth and returns."

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