Payment giant Visa plans to cut about 7% of its workforce, affecting approximately 2,600 employees. The move is aimed at streamlining the company’s operations and increasing investment in growth areas. CEO Ryan McInerney stated that artificial intelligence is accelerating the evolution of work models and is a key driver of the layoffs, though not the sole reason. The layoffs are primarily concentrated in the technology and product operations departments. The growth areas in which Visa plans to invest include high-net-worth clients, cross-border business, commercial payments, stablecoins, and geographic expansion.