[DM] Visa announced plans to axe 7 percent of its workforce as the world’s largest payments network embraces the artificial intelligence revolution.
The restructuring will wipe out nearly 2,600 jobs, with the cuts concentrated in Visa’s tech and product divisions.
The brutal downsizing was announced just hours before the payments giant reported stellar quarterly earnings.
‘To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work,' wrote Visa CEO Ryan McInerney in a memo that detailed the layoffs.
‘AI is also helping to accelerate this evolution and shape the way work gets done at Visa.’
Visa joins a long list of American corporations that are aggressively downsizing their workforces and blaming the cuts on AI. |