Visa to Lay Off Approximately 1,400 Employees and Contractors by Year-End

Visa is reported to be laying off approximately 1,400 employees and contractors by the end of the year, with around 1,000 of those positions being in technology. According to a report from The Wall Street Journal (WSJ), the company aims to streamline its international operations with these reductions. The remaining layoffs are expected to affect trading sales and global digital partnership roles related to FinTech and technology companies.

A Visa spokesperson stated that the company is continuously evolving to serve customers and support growth, which "may lead to the elimination of certain roles," and that they expect to employ more people each year in the coming years.

The report also mentions that the company carried out some layoffs last week and informed its employees in an internal announcement about the planned layoffs, but did not provide details. Visa has more than 30,000 employees worldwide.