Visa will cut 70 jobs at its downtown Bellevue office as part of a companywide restructuring that eliminates about 2,600 positions — roughly 7% of the payments giant’s workforce — as the company reorganizes how it works around artificial intelligence. A Worker Adjustment and Retraining Notification (WARN) filed with the Washington State Employment Security Department lists 70 affected workers, with separations expected to begin October 1, 2026.
The layoff at a glance
- Employer: Visa Inc.
- Location: 929 Office Tower, 929 108th Ave NE (downtown Bellevue)
- Affected workers: 70 (per the official Washington WARN filing)
- Type: Permanent layoff
- Separations begin: October 1, 2026
- Companywide reduction: About 2,600 roles, or roughly 7% of Visa’s workforce
What the WARN notice says
The notice, disclosed Friday, July 31, classifies the Bellevue cuts as a permanent layoff rather than a closure. Visa’s offices are located at 929 108th Avenue NE in the 929 Office Tower, according to the filing. The eliminated positions include directors, lead engineers, senior employees, and two vice presidents as the “result of a restructuring,” as first reported by the Puget Sound Business Journal.
The state’s Rapid Response team and local WorkSource centers will contact affected employees to help with the transition. It is not clear how many employees Visa has in Washington overall.
An AI-driven restructuring
The Bellevue cuts are part of a global reduction that came to light on Tuesday, July 28, when Bloomberg obtained an internal memo from CEO Ryan McInerney — excerpts a Visa spokesperson has confirmed are accurate. McInerney framed the layoffs as a way to reinvest in the company’s biggest opportunities as AI changes how work gets done.
“I have deep conviction that we are doing what is right for Visa, our clients and our partners as we continue to focus on driving efficiency across the company in order to reinvest in our highest potential opportunities. To capture the opportunities ahead and best position to lead this transformation, we must continue evolving how we work.”
Visa CEO Ryan McInerney, in a memo reported by Bloomberg
“AI is also helping to accelerate this evolution and shape the way work gets done at Visa,” McInerney added.
McInerney has told investors the company is rebuilding product development around AI, reforming teams “that used to be 10 or more into smaller and more nimble agentic squads of two to four” that can “design, build and ship products at an increased velocity, with continuous innovation and improvement.” Bloomberg reported the layoffs also reflect Visa’s strategy of investing more in consumer payments, commercial and money movement services, and value-added services.
The cuts come while business is strong. McInerney wrote in the memo that Visa is “entering a new era in commerce with a business that has real momentum,” and the company’s shares closed at $366.13 on Friday, an all-time high.
What it means for downtown Bellevue
Visa joins a lengthening list of major employers cutting Washington jobs while pointing to AI. Microsoft laid off thousands of workers earlier in July, and Amazon announced 16,000 layoffs earlier this year. Closer to home, Bungie cut 292 jobs at its downtown Bellevue headquarters in June, and Meta eliminated 699 Bellevue positions in May.
The 70-person reduction is a small fraction of downtown Bellevue’s employment base, but it adds to a run of AI-attributed cutbacks reshaping Eastside office payrolls this year. Separations at Visa’s Bellevue office are scheduled to begin October 1.
