Shafaqna English– On Tuesday(28 Jul 2026), a Visa spokesperson confirmed that the company plans to cut approximately 7% of its global workforce, amounting to around 2,600 positions. This move is part of Visa’s broader strategy to improve operational efficiency and reduce costs, and comes about six months after a similar reduction was carried out by its primary rival, Mastercard. The decision appears to reflect Visa’s intent to position itself for more intense competition in the rapidly expanding digital payments sector.
The layoffs are expected to be concentrated primarily within Visa’s technology and product development teams—areas where the company is seeking greater optimisation and automation.
Source: Reuters