Visa to Lay Off 1,400 Employees and Contractors in Major Restructuring, WSJ Reports

Oct 29, 2024, 06:49 PM

Visa plans to lay off approximately 1,400 employees and contractors by the end of the year as part of a large restructuring effort. The layoffs will primarily impact teams in technology, sales, and digital partnerships. Visa, which has over 30,000 employees worldwide, is aiming to streamline its international business through these cuts. The Wall Street Journal reported that some of the affected individuals are contractors on Visa's engineering teams, although the exact number of contractors affected is not specified. The layoffs represent less than 10% of Visa's workforce.