Visa Is Reportedly Planning To Cut Thousands Of Jobs. AI Played a Role In The Decision

Visa is planning to cut thousands of jobs in an efficiency push, with AI playing a role in the decision, according to a new report.

Bloomberg News detailed that the company is set to cut 7% of its workforce, or about 2,600 jobs. Most of the layoffs will take place in the technology and product teams.

The company is set to report its quarterly results on Tuesday after the session closes. Shares of the company edged up following the report, climbing less than 1% at 10:07 a.m. ET.

Several large companies, including Meta and Microsoft, have conducted layoffs over the past weeks. The latter said it is laying off more than 2% of its workforce, which is largely affecting the Xbox division.

Concretely, the company will eliminate 4,800 jobs. Microsoft's chief people officer Amy Coleman said in a message to employees that the "way technology is built, deployed, and used is transforming faster than at any point in my time here."

Xbox CEO Asha Sharma told division employees that the division will cut 3,200 people through fiscal year 2027, two thirds of all the layoffs in the company and about 20% of all employees working in Xbox. 1,600 of them are taking place on Monday.

Meta, on its end, is laying off about 10% of its workforce. The company told employees that the decision is "art of our continued effort to run the company more efficiently and to allow us to offset the other investments we're making."

The finance head of the company, Susan Li, said during the earnings call from the first quarter that leadership doesn't "really know what the optimal size of the company will be in the future."

The company ended the first quarter of 2026 with 77,900 employees, down 1% on the final quarter of 2025, following earlier rounds of redundancies. Those previous cuts were pitched as a way to streamline operations after heavy spending on the metaverse. This time, executives are far more explicit that jobs are being traded for computing power.

Company CEO Mark Zuckerberg said "we are seeing more and more examples where one or two people are building something in a week that would have previously taken dozens of people months."

At the same time, the company is dramatically expanding its largest artificial intelligence infrastructure project, increasing the planned investment in its Hyperion data center in rural Louisiana to more than $50 billion as the company races to build the computing power needed for its AI ambitions.