The wave of layoffs at Visa has reached the upper ranks. About a week after announcing a cut of approximately 2,600 jobs worldwide, it was revealed that among the hundreds of employees finishing their tenure at the company's California headquarters are senior managers, engineers, and technology personnel, some in roles where offered salaries reached nearly half a million dollars a year.
According to a notice filed under US law requiring large employers to give employees at least 60 days' notice before mass layoffs, Visa will permanently lay off 320 employees at the company's headquarters starting October 1. Among those being let go: Six vice presidents, 37 senior directors, 16 senior personnel in engineering and systems architecture, and dozens of additional software, research, and technology employees.
The documents do not detail the salary of each employee, but job postings published by Visa in recent months for vice president positions at the same site offered an annual base salary of $235,700 to $458,000, before incentives and additional benefits.
Visa is investing in AI – and in Israel, too
Visa explained that it seeks to operate more efficiently and reallocate resources to areas with high growth potential. The company's CEO, Ryan McInerney, noted in a message to employees that artificial intelligence is accelerating the change in the way work is done at the company. However, according to reports, AI is not the sole reason for the layoffs, but part of a broader restructuring.
It is worth noting that just days after filing the layoff documents, Visa announced the acquisition of Israeli company BioCatch in a cash deal of $2.4 billion. The Israeli company develops systems for fraud detection through behavioral biometric analysis, including typing style and screen usage.
The timing highlights the shift in priorities: On one hand, Visa is laying off thousands of employees, including senior managers and engineers; on the other hand, it is spending billions of dollars acquiring technological capabilities in the fields of AI, security, and fraud detection.
Meanwhile, the company reports record profits
The cuts come during a strong period business-wise. In the third quarter of fiscal year 2026, Visa reported revenues of $11.6 billion, a 14% increase compared to the corresponding period last year. Net profit rose by 7% and reached $5.6 billion.
Payment activity also continued to grow. The volume of payments and processed transactions rose by 10%, and payment volume on the company's network crossed the $4 trillion mark for the first time in a single quarter.
These numbers emphasize that Visa is not downsizing employees as a result of a decline in activity or losses. Similar to other large companies, it is using a period of growth to alter its organizational structure, reduce costs, and direct investments into technologies and activities that it views as central to its future.