Visa to lay off 7% of staff as efficiency push deepens

July 28 : Visa plans to cut 7 per cent of its workforce, or about 2,600 jobs, a company spokesperson said on Tuesday, about six months after a similar step by its closest peer as the payments processor seeks to become more efficient. The job cuts will primarily affect technology and product teams. "To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work,” CEO Ryan McInerney wrote in a staff memo, excerpts from which were confirmed by the company spokesperson.Artifical Intelligence is also speeding up this shift and influencing how work is carried out at Visa, he added. AI has helped cut repetitive tasks and speed up product development, but it was not the sole factor behind the decision, according to Bloomberg News, which