AI-cuts: Visa to lay off around 2,600 employees despite profit growth

Visa, the international payment system, announced it will lay off approximately 2,600 employees, representing approximately 7% of its global workforce. The majority of the layoffs will be in the technology and product development divisions.

The company explained the decision as a result of a reorganization and a desire to improve efficiency by reallocating resources to promising areas, including artificial intelligence. Visa management emphasizes that the implementation of AI is an important part of the changes, but not the sole reason for the layoffs.

The announcement comes amid strong financial results for the third quarter of fiscal year 2026. Visa’s revenue grew 14% to $11.63 billion, with net profit reaching $5.63 billion. Payment volume and the number of transactions processed increased by 10%, while cross-border transactions increased by 13%.

The layoffs at Visa reflect a trend in which large corporations are reducing their workforce not because of the financial crisis, but in tandem with business growth—to restructure and accelerate the implementation of new technologies.