Visa Hit by AI Shift! 2,600 Jobs Cut; Impact Felt in India Too

Global payments company Visa has announced significant workforce reductions. The company is laying off approximately 2,600 employees worldwide, representing about 7 percent of its total workforce. Media reports indicate that India has also been affected by these layoffs. Reportedly, several Indian employees were notified of their termination via email on the morning of July 29; however, the company has not disclosed the exact number of employees let go in India.

Visa operates major technology and corporate centers in Bengaluru, Mumbai, Chennai, and Hyderabad, employing over 3,500 people in the country. Some reports claim that within one specific Indian team, 10 out of 28 employees lost their jobs. The layoffs affect not only junior staff but also engineering managers, senior directors, and long-serving employees. Affected staff have been offered notice periods and severance packages.

Visa has not attributed these layoffs to poor business performance. Instead, the company states it is aligning its resources with future needs and intends to increase investment in Artificial Intelligence (AI). Visa CEO Ryan McInerney has previously stated (via Bloomberg) that the company is focusing on “Agentic AI” systems capable of autonomously performing tasks under human supervision. Consequently, the company is aiming to accomplish more work with a smaller workforce.

Visa’s move comes at a time when many major tech companies are reviewing their workforces alongside the adoption of AI. Mastercard and fintech firm Block have also previously announced staff reductions. It is widely anticipated that the growing use of AI will have an even greater impact on jobs within the tech industry in the near future.