Visa cuts 2,600 Jobs in India: Inside story of mass layoffs as employees caught off guard amid AI push
The layoffs were not limited to junior employees only, rather senior directors, engineer managers and employees who had spent years with Visa were also among those affected.
PTC News Desk: July 29 began with an unexpected email for several employees working at Visa India. While many employees were getting ready as usual for their work day, the company had already sent them email announcing that they have already lost their jobs.
The email landed between 4 am and 5 am.
Visa Layoffs: What Happened In India?
The layoffs were not limited to junior employees only, rather senior directors, engineer managers and employees who had spent years with Visa were also among those affected.
The job cuts would reduce around 7 % of global workforce affecting nearly 2,600 employees as Visa looks to expand the use of artificial intelligence (AI) across its business. Chief Executive Officer Ryan McInerney said the company was reshaping its workforce to prepare for the next phase of AI adoption.
Notably, Visa had about 34,100 employees in fiscal 2025. That means the latest cuts amount to roughly one in every 14 employees globally.
Layoffs not due to business crisis
Visa continues to perform well, with consumer spending staying strong. Its business model is also different from traditional banks because it earns mainly from processing transactions rather than lending money, which means it faces much lower credit risk.
This means the company's job cuts are not about financial trouble or survival. Instead, they are part of an effort to reshape its workforce as technology and business needs continue to change.
The development is especially important for India. Over the years, many global technology companies have built large engineering and operations teams in the country, creating thousands of jobs.
Visa is one of them, with major technology centres in India employing thousands of people across engineering, product development and corporate functions. As a result, the layoffs have raised concerns among India's technology workforce.
The bigger question now is whether more global companies will start reducing technology jobs as advances in automation and artificial intelligence allow some work to be done with fewer employees. Similar trends are already being seen at other multinational companies.