Visa (V) to Cut 2,600 Jobs, Reducing Workforce by 7%

Visa (V) plans to cut approximately 2,600 jobs, representing about 7% of its workforce, to improve efficiency, as stated by CEO Ryan McInerney. The job reductions will primarily affect technology and product teams. Visa reported a GAAP net income of $5.6 billion for the three months ended June 30, 2026, which is an increase of 7% year-on-year. The company's net revenue for the same quarter rose by 14% year-on-year to $11.6 billion, driven by growth in payments volume and processed transactions. This reduction may signal an effort to streamline operations and reposition the company for future growth, which is relevant for investors.