San Francisco, California-based Visa, the iconic payment card firm associated with Visa-branded credit cards, debit cards, and prepaid cards, has announced a restructuring and a 7% reduction in its workforce.
The reduction will impact 2,600 employees, mainly in technology and product operations roles companywide.
According to CEO Ryan McInerney, “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. To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work. AI is also helping to accelerate this evolution and shape the way work gets done at Visa. As a result of the choices we have made over the past few years, we are entering a new era in commerce with a business that has real momentum. We see this in our continued strong financial results, client satisfaction, employee engagement, and breakthrough innovation as we build and ship products better and faster than ever before."
Change is constant, and it's coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, at any time, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?