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Visa to Lay Off Nearly 7% of Its Workforce
['Jason Bramwell']
CPA Practice Advisor
Visa announced in a memo to staff on Tuesday that it would be laying off 2,600 employees, or nearly 7% of its workforce.
The San Francisco-based card payment company has not confirmed how many affected employees will be from its California offices.
The layoffs come as Visa is seeking to make its operations more efficient and advance its use of artificial intelligence.
Patreon, Intel and Uber also announced layoffs this week, resulting in more than 200 job cuts in the San Francisco Bay Area.
Last week, the ride-sharing giant said it would be cutting 10% of its customer service workforce to utilize AI.