Posted on 08/05/2026 5:26:35 PM PDT by Libloather
Payment processing giant Visa recently conducted a brutal layoff of 2,600 jobs — and not even top executives were spared.
The San Francisco-based credit card titan filed a notice with California on July 31 revealing that 320 employees will lose their jobs at its Foster City campus.
The bloodbath hit well beyond rank-and-file workers: The filing shows 37 senior directors are being cut, along with 16 chief engineering and architect positions, as well as dozens of senior software engineers, researchers and other technical employees.
Six vice presidents also lost their jobs; LinkedIn job postings cited by SFGATE show those VP roles advertised salaries ranging from $235,700 to $458,000, excluding potential sales incentive payments.
The job cuts are part of the wider 2,600-job reduction across the company, around a 7% reduction, Bloomberg reported.
"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,” Visa CEO Ryan McInerney wrote.
“To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work,” he continued. “AI is also helping to accelerate this evolution and shape the way work gets done at Visa.”
(Excerpt) Read more at nypost.com ...
Justice! Hope everyone Director level and above gets flushed all across corporate America. They’re an evil narcissistic bunch and have totally destroyed our nations middle class. And also invaded the U.S. with all the H1B visas. Spit on them.
Yup.
Yes we must continue evolving how we work.
That was the GE system back in the day, which lots of other companies emulated. Jack Welch as CEO.
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