Visa and other California companies announce almost another 3,000 layoffs
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Set us as preferred Californian firms still are announcing big layoffs, and this time it is not only tech companies.Visa announced in a memo to staff on Tuesday that it would be laying off 2,600 employees, or nearly 7% of its workforce.
The San Francisco-based card payment company has not confirmed how many affected employees will be from its California offices.The layoffs come as Visa is seeking to make its operations more efficient and advance its use of artificial intelligence.
.“To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work,” Chief Executive Ryan McInerney wrote.
“AI is also helping to accelerate this evolution and shape the way work gets done at Visa.”In Visa’s most recent earnings call on July 28, the company reported a net revenue of $11.6 billion, a 14% increase from last year.Business San Francisco is totally unprepared for the coming wealth tsunami.“As a result of the choices we have made over the past few years, we are entering a new era in commerce with a business that has real momentum,” McInerney said in the memo.
“We see this in our continued strong financial results, client satisfaction, employee engagement, and breakthrough innovation as we build and ship products better and faster than ever before.”Patreon, Intel and Uber also announced layoffs this week, resulting in more than 200 job cuts in the San Francisco Bay Area.Intel announced 103 layoffs across four of its Santa Clara offices, with their Juliette Lane office being hit the hardest with 67 layoffs.
This announcement extends years of layoffs at the tech company, including more than 400 in July 2025.The layoffs are part of an ongoing restructuring for efficiency and will take effect Aug.
15.Uber announced 41 layoffs across three San Francisco off...