Visa’s Senior-Level Layoffs Highlight AI-Driven Restructuring Amid Record Profits

On July 28, Visa announced the elimination of roughly 2,600 positions—about 7 % of its global workforce—as part of a broader restructuring effort. A subsequent WARN filing indicates that, beginning on October 1, the company will permanently lay off 320 employees at its Foster City, California headquarters. The cuts include six vice presidents, 37 senior directors, 16 senior engineering or architecture leaders, and dozens of senior software engineers and technical researchers.

The Jerusalem Post

Visa’s leadership framed the reductions as necessary to “continue evolving how we work,” citing artificial intelligence as a catalyst that is reshaping job functions. While AI is highlighted as a driver, a source familiar with internal deliberations told CNBC that it is not the sole factor behind the cuts. The timing coincided with Visa’s fiscal third-quarter earnings release and preceded a $2.4 billion cash acquisition of Israeli fraud-detection firm BioCatch, underscoring a shift toward AI-focused security capabilities.

Human Resource Executive

Visa’s third-quarter fiscal 2026 results showed revenues of $11.6 billion, a 14 % year-over-year increase, and net profit of $5.6 billion, up 7 %. Personnel expenses rose 40 % in the quarter, largely driven by $563 million in severance tied to the reduction. Prior to the layoffs, LinkedIn postings from three months earlier listed VP salaries at the Foster City site ranging from $235,700 to $458,000 in base pay, before incentives and benefits.

Human Resource Executive

CEO Ryan McInerney communicated to employees that AI is accelerating the transformation of work at Visa and that the restructuring is intended to position the company for future growth. He emphasized the need to reallocate resources toward high-growth areas, including AI and security technologies.

The Jerusalem Post