The credit card giant apparently expected staff cuts in an internal message sent last week, but did not provide precise details

The American multinational company Visa is preparing to lay off about 1,400 employees and contract workers in order to "streamline" its international activities. Anonymous sources told the Wall Street Journal, adding that the contracts of the employees involved will be terminated before the end of the year.

According to sources, about a thousand of the total number of layoffs will affect "technology positions", and the rest mainly relate to positions in global digital sales and partnership departments. The latter is also responsible for managing the company's relationships with fintech or technology companies such as Amazon.

A Visa representative told the newspaper that the company "continues to evolve to better serve its customers and support growth, which may lead to the reduction of some positions." The representative then added that Visa plans to hire new employees every year for the foreseeable future.

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