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Visa to cut about 7% of workforce, roughly 2,600 jobs

The Wall Street Journal +2 ·

V Visa Inc
$368.73 +0.58%
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  1. 1Visa (V) is laying off roughly 2,600 employees, about 7% of its total workforce, to bolster competitiveness.
  2. 2The cuts will target its technology and product teams; the company had about 34,100 employees at the end of the most recent fiscal year.
  3. 3The freed-up capital will be reinvested in consumer payments, commercial, and value-added services, among other areas, and the stock rose about 2.1% in Tuesday premarket trading.

This 3-line summary is compiled from the report below.

The Wall Street Journal +2 View original ↗
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