Visa has announced plans to reduce its global workforce by about 7%, eliminating roughly 2,600 jobs as the payments giant streamlines operations and redirects resources toward higher-growth areas. The layoffs have sparked discussion online, with many questioning whether job cuts are still tied to employee performance.
X user Arnab Das wrote, “My entire team at Visa just got laid off including my manager. The guy had end-to-end ownership of the product, outstanding performance reviews every cycle, and was probably the last person you’d expect to be let go. Feeling shocked. And strangely lucky that I left Visa.” Several users responding to the post argued that layoffs are no longer linked to performance.
“Layoffs have literally nothing to do with performance. When it comes down to cost cutting, 1st they look for redundant roles and then they target fat paychecks employees,” one comment said. “‘The guy had…’ nothing matters. It’s not a performance-based layoff. It’s literally cost cutting,” another X user wrote. A third commenter added, “Who told you performance and layoffs are related?”
READ: Visa to cut 2,600 jobs in global workforce reduction (July 28, 2026)
Another X user argued that employees with higher salaries are often among the first to be affected, citing the company’s director of security as an example of someone who was laid off.
Visa CEO Ryan McInerney defended the decision to conduct layoffs in an internal memo to employees, saying the company needs to continue improving efficiency while investing in key opportunities. “I have deep conviction that we are doing what is right for Visa, our clients and our partners as we continue to focus on driving efficiency across the company in order to reinvest in our highest potential opportunities,” McInerney wrote in the memo, excerpts of which were confirmed by the company.
READ: Trump administration loses appeal over $100,000 H-1B visa fee (July 25, 2026)
This comes amid a wider round of layoffs by companies as they continue restructuring. Several other companies in the financial technology sector had conducted job cuts earlier. Earlier this year, Mastercard said it would cut 4% of its global workforce to refocus investments, and fintech company Block announced plans in February to eliminate nearly 4,000 positions, or about half of its workforce.
Visa employed approximately 34,100 people in fiscal 2025, an 8% increase from the previous year, according to its annual report. Analysts at Evercore ISI described the move as part of normal business adjustments rather than a major setback for the company.