business π Visa India lays off 2600 roles amid AI shift
Visa announced a layoff of about 7% of its workforce, totaling roughly 2,600 roles. The cuts impacted employees across India, with notifications sent between 4 am and 5 am on 29 July. CEO Ryan McInerney stated the reductions aimed to drive efficiency in the age of agentic AI. The elimination mostly targeted technology and product teams, with some teams losing large portions of their staff. Moving forward, the company aims to leverage autonomous AI agents to expand its market reach. π