Visa lays off 2,600 employees to pursue agentic AI development
Business
Visa just laid off 2,600 people, about 7% of its global team, mostly from tech and product roles.
The company says it's doubling down on artificial intelligence, aiming for "agentic AI" systems that can perform tasks with human supervision.
Visa has continued to perform strongly, with consumer spending remaining resilient, but this move is all about staying ahead as the industry shifts toward smarter tech.
Visa layoffs hit senior, tenured staff
The layoffs hit senior directors and longtime staff too, including one India-based team of 28 that reportedly lost 10 members overnight.
While severance packages were offered, for some, access to company systems was withdrawn within days.
Visa isn't alone here: big names like Mastercard and Amazon are also making similar cuts.