Payments giant Visa is cutting roughly 2,600 employees, or about 7pc of its workforce, in a now familiar pivot towards AI. The job cuts are expected to primarily focus on the company’s technology and product teams. “AI is also helping to accelerate this evolution and shape the way work gets done at Visa.” More recently, Microsoft announced 4,800 job cuts and the parent company behind the Reuters news agency laid off 500 engineering jobs. Even bigger layoffs, including 8,000 job cuts at Meta, were also announced in recent months.