ME News reports that on July 28 (UTC+8), payment giant Visa plans to cut approximately 2,600 positions, about 7% of its workforce, primarily affecting technology and product teams. Visa CEO Ryan McInerney stated that the move aims to enhance operational efficiency and reallocate resources to high-potential businesses. Visa intends to increase investment in consumer payments, commercial and funds flow solutions, and value-added services—including stablecoins, cross-border payments, and business-to-business services. The company also noted that AI is helping reduce repetitive tasks and accelerate product development, though it is not the sole reason for these layoffs. (Source: ODAILY)
Visa to Cut 2,600 Jobs and Shift Focus to Stablecoins and High-Potential Businesses
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Summary
Visa announced on July 28, 2026, that it will cut 2,600 jobs, or 7% of its workforce, primarily from tech and product teams. CEO Ryan McInerney said the move aims to refocus efforts on high-growth areas such as stablecoins, cross-border payments, and B2B operations. The company noted that AI and crypto-related developments are helping reduce repetitive tasks but emphasized they are not the primary driver of the layoffs. On-chain data indicates this shift aligns with broader trends in digital payments and value-added services.
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