Bengaluru: Global payments technology company Visa has announced plans to cut 7% of its global workforce, impacting around 2,600 employees, as part of a restructuring aimed at improving operational efficiency and investing in future growth opportunities.

The layoffs will primarily affect the company’s technology and product teams, with employees in India, including Bengaluru, also receiving notifications about the job cuts.

CEO cites efficiency and future investments

In a memo to employees, Visa CEO Ryan McInerney said the company must continue evolving to remain competitive in a rapidly changing payments landscape.

“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.

According to reports, while artificial intelligence has helped automate repetitive tasks and accelerate product development, it was not the sole reason behind the workforce reduction.

Employees express shock

The layoffs triggered strong reactions on social media after former Visa employee Arnab Das revealed that his entire former team, including its manager, had been laid off.

Das said his former manager had consistently received outstanding performance reviews and managed products end-to-end, making the decision particularly surprising.

“My entire team at Visa just got laid off, including my manager,” he wrote on X, adding that he felt “shocked” by the development but also “strangely lucky” to have left the company earlier.

Several employees and industry professionals commented that layoffs are often driven by cost-cutting and organisational restructuring rather than individual performance.

Workforce restructuring

One employee described the situation as creating widespread anxiety within the organisation, saying it had become difficult for staff to focus on their work amid uncertainty.

Visa employed approximately 34,100 people globally during the 2025 fiscal year, according to its annual report. The latest restructuring reflects a broader trend among global technology and financial services firms seeking to streamline operations while investing in emerging technologies and long-term growth.