Visa plans to cut about 7% of its workforce, roughly 2,600 employees, as CEO Ryan McInerney seeks to streamline the payments company, according to CNBC.
Key facts
- Visa plans to cut about 7% of its workforce, according to CNBC.
- The reduction amounts to roughly 2,600 employees.
- CEO Ryan McInerney is leading the effort to streamline the company.
- CNBC framed the move against a backdrop of AI reshaping how work is done.
Visa plans to cut about 7% of its workforce, or roughly 2,600 employees, as part of an efficiency push led by chief executive Ryan McInerney, according to CNBC.
The reduction is aimed at streamlining the payments company, CNBC reported. The report framed the cuts against a backdrop of artificial intelligence reshaping how work is done.
CNBC identified McInerney as the executive seeking to make the company leaner. Further details on the timing of the cuts and which parts of the business would be affected were not included in the report.
Why it matters
Visa is one of the world's largest payment processors, and CNBC reported the reduction amounts to roughly 2,600 jobs, making it a notable workforce decision at a major company.
Frequently asked questions
How many jobs is Visa cutting?
Visa plans to cut about 7% of its workforce, which amounts to roughly 2,600 employees, according to CNBC.
Why is Visa making these cuts?
According to CNBC, CEO Ryan McInerney is seeking to streamline the payments giant in an efficiency push, with the report noting AI is reshaping work.
Who is leading the effort at Visa?
CNBC reported that CEO Ryan McInerney is leading the effort to streamline the company.