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According to Bloomberg, Visa plans to cut about 2600 positions, accounting for approximately 7% of its total workforce. Visa CEO Ryan McInerney stated that the company aims to improve operational efficiency and invest resources in consumer payments, business and cash flow solutions, value-added services, as well as stablecoins, cross-border payments, and business to business (B2B) businesses. Visa stated that AI is helping to reduce repetitive work and accelerate product development, but it is not the only reason for this round of layoffs.