Visa Is Cutting 2,600 Jobs Despite a Strong Quarter

Visa is cutting around 2,600 jobs as it restructures its operations, even after reporting double-digit growth in revenue, payment volumes and processed transactions.

Visa is cutting thousands of jobs, but the move comes as its payments business continues to grow.

The company plans to eliminate around 2,600 positions, roughly 7% of its global workforce, with technology and product teams expected to take much of the impact. Visa says the restructuring will allow it to cut costs while redirecting investment towards faster-growing parts of the business.

And the timing stands out.

Visa reported a 14% increase in quarterly net revenue to $11.63 billion, while net profit reached $5.63 billion. Payment volumes climbed 10%, passing $4 trillion in a single quarter for the first time.

Cross-border volumes, an important source of revenue for Visa, were also up 13%.

Those numbers suggest Visa is not restructuring because its core business is under pressure. Consumers and businesses are still spending, international payments are growing and more transactions are moving through its network.

Instead, Visa appears to be reshaping the company while growth remains strong.

CEO Ryan McInerney said Visa needs to continue changing how it operates as the payments industry evolves. Investment is increasingly being directed towards areas including consumer payments, business transactions, stablecoins and other digital services.

AI is also changing how some work is done inside the company, particularly repetitive tasks and parts of product development. But Visa has not presented automation as the sole reason behind the cuts. The wider goal is to operate more efficiently and concentrate employees and investment in areas with greater growth potential.

That push is not unique to Visa. Mastercard has also announced workforce reductions as major payments companies face growing competition from digital wallets, fintech platforms, instant payments and emerging stablecoin services.

Visa’s own costs are rising as well. Quarterly operating expenses increased 19% to $4.8 billion, including $563 million in severance expenses related to the restructuring.

For investors, that creates an interesting contrast. Visa is processing record payment volumes and delivering double-digit revenue growth, yet management is still looking for a leaner cost structure.