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Story summary
- CEO Ryan McInerney said Visa Inc. will cut about 2,600 jobs, 7% of its workforce, targeting technology and product teams and accelerating reductions with AI, though AI is not the sole driver.
- In the third quarter, Visa reported net revenue of $11.6 billion, up 14%, and GAAP net income of $5.6 billion, or $2.97 per share, up 7% and 10%.
- Visa processed 71.7 billion transactions, a 10% rise, and returned $6.2 billion to shareholders.
