Visa to cut 2,600 jobs as AI reshapes payments

Visa, the world's largest credit card payment company, plans to cut about 2,600 jobs, or 7% of its workforce. The news comes from an internal memo confirmed by a company spokesperson. The cuts mainly target engineering teams, not customer service or back-office staff.

CEO Ryan McInerney said AI is driving a once-in-a-century shift in payments, pushing Visa to restructure. He added that AI is reshaping how Visa operates, and the layoffs are meant to help the company seize future opportunities and lead the change.