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

According to reports, Visa is expected to lay off approximately 1,400 employees and contractors by the end of the year, with around 1,000 in technology positions. The company aims to streamline its international operations with these cuts. The article indicates that in addition to the 1,000 layoffs in technology positions, the remaining layoffs will impact roles related to trader sales and global digital partnerships, which are associated with FinTech and technology companies.

A Visa spokesperson stated that the company is continuously evolving to serve its customers and support growth, which "can lead to the elimination of some roles" and expressed an expectation to hire more people in the coming years.

The company reportedly made some layoffs last week and informed its employees in an internal announcement about the planned layoffs but did not provide further details. Visa has more than 30,000 employees worldwide.