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The Receipts
No. 006The Efficiency Push
THE COMPANY STORE
Serving you. Literally.
Workforce cut: 2,600 jobs — 7% of the entire company−2,600
Same quarter: net revenue up 17%, net income $6BRECORD
New stock buyback authorized, same quarter$20B
Total: your job security$0.00
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Visa’s CEO said AI is reshaping how work gets done. Here’s what else happened that same quarter.
Net revenue up 17 percent. Net income: $6 billion. The board authorized a new $20 billion stock buyback — money set aside specifically to buy Visa’s own stock back, a separate decision layered on top of the record quarter, not revenue and not banked profit.
Then the company cut 2,600 jobs anyway — 7 percent of the entire company, tech and product teams first.
Nobody said the business was in trouble. Nobody said revenue was down. They said “efficiency.”
$20 billion for a stock buyback. 2,600 jobs for “efficiency.”
Sources: CNBC, "Visa is cutting 7% of employees in efficiency push as AI reshapes work," Jul 28 2026 · Fox Business, "Visa plans to cut 7% of workforce, about 2,600 jobs, for efficiency." Both public record.
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