Visa is cutting about 2,600 jobs, roughly 7% of its workforce, in a restructuring first reported by Bloomberg on July 28, 2026 and confirmed in a memo from CEO Ryan McInerney the same day. Technology and product teams take the biggest hit, and McInerney says AI is shaping how work gets done at Visa. The workforce figure of 37,000 is derived from the reported numbers, since Visa states headcount annually. The announcement landed hours before Visa's fiscal third-quarter earnings.
The cuts follow a decade in which Visa's headcount more than tripled, and they fit a wider pullback in payments: Mastercard announced a 4% reduction earlier this year. Visa's own H-1B record is worth reading alongside the layoffs. The company has filed 8,777 LCA applications since FY2015 at a $116,241 median wage, mostly software developers in Austin and Foster City, with over 1,000 filings in fiscal 2025 alone. Explore it in our H-1B tool.