Visa Layoffs

Visa lays off 7% of staff in renewed efficiency push. Interesting job market. Some sectors are hot to hire, while others seem to be downsizing for a variety of reasons. Be prepared! Make your next #career move the best one yet. With our 5-star Google rating, every resume we touch is customized to tell your story and deliver results.

 www.jobtransitions.net

Edited by Jake Perez, Editor at LinkedIn News

Ahead of reporting third-quarter earnings Tuesday, Visa announced it's laying off 7% of its workforce — roughly 2,600 people — as CEO Ryan McInerney pushes for greater efficiency. Technology and product teams were most impacted. In a memo to staff, McInerney cited a need to "focus on driving efficiency across the company in order to reinvest in our highest potential opportunities." Visa plans reinvestment in consumer payments, commercial and money-movement solutions and value-added services, including stablecoin. McInerney acknowledged that AI-related productivity gains factored in the layoff decision.