Visa on Tuesday announced plans to cut 7% of its workforce, or about 2,600 jobs, as the payment processor moves forward with a push to operate more efficiently. The job cuts are expected to primarily affect technology and product teams. According to the company's annual report for 2025, Visa had around 34,100 employees during its 2025 fiscal year, which was an increase of about 8% year over year. Visa's job cuts come about six months after its closest peer made a similar move to scale back its workforce. Fintech firm Block also said in February it would cut nearly half of its workforce, or about 4,000 jobs.