Visa Plans to Lay Off About 2,600 Employees, Approximately 7% of Workforce

July 28th, according to Bloomberg, Visa Inc. is laying off about 2,600 jobs, as CEO Ryan McInerney aims to boost efficiency in response to increasing competition in the payments industry.

McInerney stated in an internal memo to employees on Tuesday that the layoffs represent about 7% of the company's workforce and will mainly impact the technology and product teams.