{"id":923300,"date":"2026-07-29T05:12:39","date_gmt":"2026-07-29T10:12:39","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/07\/29\/technology-teams-to-be-hit-by-visas-7-jobs-cull\/"},"modified":"2026-07-29T05:12:39","modified_gmt":"2026-07-29T10:12:39","slug":"technology-teams-to-be-hit-by-visas-7-jobs-cull","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/07\/29\/technology-teams-to-be-hit-by-visas-7-jobs-cull\/","title":{"rendered":"Technology teams to be hit by Visa\u2019s 7% jobs cull"},"content":{"rendered":"<div>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/HeroImages\/smartphone-payment-mobile-wallet-Westend61-adobe_searchsitetablet_520X173.jpg\" data-credit=\"Westend61 - stock.adobe.com\"  width=\"520\" height=\"173\" alt><\/p>\n<p>Westend61 &#8211; stock.adobe.com<\/p>\n<\/p><\/div>\n<div id=\"content-header\">\n<h2>Payments giant Visa set to cut thousands of jobs as competition in the sector intensifies<\/h2>\n<\/div>\n<div id=\"content-center\">\n<ul>\n<li><i data-icon=\"1\"><\/i><\/li>\n<li><i data-icon=\"2\"><\/i><\/li>\n<\/ul>\n<div id=\"contributors-block\">\n<p><img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/rms\/computerweekly\/Karl-Flinders-profile-pic-2022-140x180px.jpg\" alt=\"Karl Flinders\">\n\t\t\t\t\t<\/p>\n<p><span>By<\/span><\/p>\n<ul>\n<li>\n\t\t\t\t\t<a href=\"https:\/\/www.techtarget.com\/contributor\/Karl-Flinders\">Karl Flinders,<\/a><br \/>\n\t\t\t\t\t\t<span>Chief reporter and senior editor EMEA<\/span>\n\t\t\t\t\t\t<\/li>\n<\/ul>\n<p>\n\tPublished: <span>28 Jul 2026 16:00<\/span>\n<\/p>\n<\/div>\n<section id=\"content-body\">\n<p>Visa will cut 7% of its workforce and increase the use of artificial intelligence (AI) to \u201cevolve\u201d how it works, according to an internal memo to staff.<\/p>\n<p>In his message to over 34,000 employees, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-07-28\/visa-to-cut-7-of-workforce-as-ceo-seeks-to-revamp-payments-firm?srnd=phx-finance\">reported by Bloomberg<\/a>, Visa CEO Ryan McInerney said its technology and product teams will primarily be affected by the 2,600 job cuts.<\/p>\n<p>The CEO wrote: \u201cI have deep conviction that we are doing what is right for Visa, our clients and our partners as we continue to focus on driving efficiency across the company in order to reinvest in our highest potential opportunities.\u201d<\/p>\n<p>He told staff that AI is being used to change how employees work. \u201cTo capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work,\u201d wrote McInerney. \u201cAI is also helping to accelerate this evolution and shape the way work gets done at Visa.\u201d<\/p>\n<p>Quoting a person with knowledge of the company\u2019s decision, Bloomberg reported that AI is not the only driver of the job cuts, with Visa keen to reinvest in \u201cconsumer payments, commercial and money-movement solutions and value-added services, which include stablecoin, cross-border and business-to-business offerings\u201d.<\/p>\n<p>According to an <a href=\"https:\/\/www.computerweekly.com\/news\/366639439\/Institutionalised-AI-puts-Visa-top-of-ranking\">independent benchmarking report in February<\/a>, AI has already become institutionalised at Visa, and the firm is leading the way in the technology\u2019s application in the payments sector.<\/p>\n<p>The report from benchmarking company Evident\u00a0ranked Visa number one in its\u00a0<em><a href=\"https:\/\/evidentinsights.com\/payments-ai-index\/\">AI index for payments<\/a><\/em>, as a result of what it described as its shift from individual AI use cases to \u201cinstitutional capability\u201d.<\/p>\n<p>Mastercard came in at number two, while PayPal took third spot in the index of 12 payments companies, which documented nearly 100 use cases for AI in the payments sector.<\/p>\n<p>But, according to Evident, payments firms have not detailed their return on investment from AI spend, unlike banks.<\/p>\n<p>The index took into account four factors: talent, innovation, leadership and transparency. According to Evident, Visa demonstrates the clearest evidence that AI is institutionalised across its core transaction network.<\/p>\n<p>\u201cWhat sets Visa apart is the degree to which the company is demonstrating impact at scale over multiple years from applications of AI across its operations and network,\u201d said Evident co-founder Alexandra Mousavizadeh at the time of the report. \u201cIt signals a shift from individual use cases to AI as an institutional capability.\u201d<\/p>\n<p>But unlike banks, Evident said no payments company has disclosed realised or projected return on investment across all AI investments. Also speaking at the time of the report, Evident\u2019s other co-founder, Annabel Ayles, said this is \u201cincreasingly conspicuous\u201d.<\/p>\n<p>\u201cWhile one in five banks now report on group-level AI returns, payments firms have yet to quantify the aggregate impact of their AI investments,\u201d she said. \u201cTo keep justifying this expenditure, the market will sooner or later demand clearer evidence of value.\u201d<\/p>\n<p>Banks are gaining huge benefits from AI today, with Lloyds Banking Group\u2019s\u00a0<i>Financial institutions sentiment survey for 2025<\/i>\u00a0finding that\u00a0<a href=\"https:\/\/www.computerweekly.com\/news\/366630147\/Number-of-UK-banks-reporting-AI-driven-productivity-improvements-doubles\">59% of surveyed firms reported AI-driven productivity gains<\/a> in the past 12 months, compared with 32% in the 2024 survey.<\/p>\n<\/section>\n<section id=\"DigDeeperSplash\">\n<h4>\n\t\t\t<i data-icon=\"m\"><\/i>Read more on IT suppliers<\/h4>\n<ul>\n<li><a id=\"DigDeeperItem-1\" href=\"https:\/\/www.computerweekly.com\/news\/366639735\/Santander-and-Mastercard-complete-test-of-AI-initiated-payment\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero Images\/Mastercard-paying-bill-with-card-hero_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero%20Images\/Mastercard-paying-bill-with-card-hero_searchsitetablet_520X173.jpg 960w,https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero%20Images\/Mastercard-paying-bill-with-card-hero.jpg 1280w\" alt ><\/p>\n<h5>Santander and Mastercard complete test of AI-initiated payment<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/rms\/computerweekly\/Karl-Flinders-profile-pic-2022-140x180px.jpg\" alt=\"KarlFlinders\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Karl\u00a0Flinders<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<li><a id=\"DigDeeperItem-2\" href=\"https:\/\/www.computerweekly.com\/news\/366639439\/Institutionalised-AI-puts-Visa-top-of-ranking\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/HeroImages\/bank-credit-visa-mastercard-Editorial-Use-Only-MMxeon-adobe_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/HeroImages\/bank-credit-visa-mastercard-Editorial-Use-Only-MMxeon-adobe_searchsitetablet_520X173.jpg 960w,https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/HeroImages\/bank-credit-visa-mastercard-Editorial-Use-Only-MMxeon-adobe.jpg 1280w\" alt ><\/p>\n<h5>Institutionalised AI puts Visa top of ranking<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/rms\/computerweekly\/Karl-Flinders-profile-pic-2022-140x180px.jpg\" alt=\"KarlFlinders\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Karl\u00a0Flinders<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<li><a id=\"DigDeeperItem-3\" href=\"https:\/\/www.computerweekly.com\/news\/366639194\/Banks-to-discuss-UK-alternative-to-Visa-and-Mastercard\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/HeroImages\/bank-credit-visa-mastercard-Editorial-Use-Only-MMxeon-adobe_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/HeroImages\/bank-credit-visa-mastercard-Editorial-Use-Only-MMxeon-adobe_searchsitetablet_520X173.jpg 960w,https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/HeroImages\/bank-credit-visa-mastercard-Editorial-Use-Only-MMxeon-adobe.jpg 1280w\" alt ><\/p>\n<h5>Banks to discuss UK alternative to Visa and Mastercard<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/rms\/computerweekly\/Karl-Flinders-profile-pic-2022-140x180px.jpg\" alt=\"KarlFlinders\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Karl\u00a0Flinders<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<li><a id=\"DigDeeperItem-4\" href=\"https:\/\/www.computerweekly.com\/news\/366558834\/Visa-launches-artificial-intelligence-advisory\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero Images\/digital-banking-credit-keyboard-adobe_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero%20Images\/digital-banking-credit-keyboard-adobe_searchsitetablet_520X173.jpg 960w,https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero%20Images\/digital-banking-credit-keyboard-adobe.jpeg 1280w\" alt ><\/p>\n<h5>Visa launches artificial intelligence advisory service<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/rms\/computerweekly\/Karl-Flinders-profile-pic-2022-140x180px.jpg\" alt=\"KarlFlinders\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Karl\u00a0Flinders<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<\/ul>\n<\/section>\n<\/div>\n<p><a href=\"https:\/\/www.computerweekly.com\/news\/366646263\/Technology-teams-to-be-hit-by-Visas-7-jobs-cull\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Bong Lupo<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Westend61 &#8211; stock.adobe.com Payments giant Visa set to cut thousands of jobs as competition in the sector intensifies By Karl Flinders, Chief reporter and senior editor EMEA Published: 28 Jul 2026 16:00 Visa will cut 7% of its workforce and increase the use of artificial intelligence (AI) to \u201cevolve\u201d how it works, according to an<\/p>\n","protected":false},"author":1,"featured_media":923301,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22152,46],"tags":[],"class_list":["post-923300","post","type-post","status-publish","format-standard","has-post-thumbnail","category-teams","category-technology"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/923300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=923300"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/923300\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/923301"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=923300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=923300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=923300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}