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Story summary
- Visa will lay off 320 staff at its Foster City headquarters on October 1, including six vice presidents, 37 senior directors and 16 engineers.
- The move follows a July 28 announcement that Visa cut 2,600 jobs worldwide (7% of staff).
- CEO Ryan McInerney said AI is driving changes, although a source told CNBC AI was not the sole cause.
- Visa completed a $2.4 billion cash purchase of Israeli fraud-detection firm BioCatch that week.
