Visa Plans 7% Job Cut as It Expands AI Investment
Visa, the global payments company, plans to cut about 7% of its workforce as it restructures operations and invests more heavily in artificial intelligence. CEO Ryan McInerney said AI is helping to reshape how work is done at the company. However, the planned job cuts are not being attributed to AI alone. Visa is also shifting resources towards cross-border payments, business payment solutions, stablecoins, affluent customers and new markets. Visa had about 34,100 employees at the end of its last fiscal year, meaning the reduction could affect thousands of workers. The company says it remains in a strong growth phase despite the restructuring. The announcement raises a wider question for workers everywhere: is AI creating new opportunities, or accelerating job losses as companies seek to become more efficient?
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