Visa Inc. is cutting dozens of workers from its downtown Bellevue office as part of a global layoff of approximately 2,600 employees, adding to a mounting wave of AI-driven job losses hitting the city's tech corridor.

The payment technology giant disclosed the cuts in an internal memo from CEO Ryan McInerney on July 28 with the Puget Sound Business Journal reporting the Bellevue-specific impact on Friday, July 31.

The reductions primarily affect product and technology teams and represent about 7% of Visa's roughly 34,100-person global workforce.

"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," McInerney wrote in the memo, according to the Puget Sound Business Journal.

Visa's Bellevue office sits at 929 108th Ave NE, a LEED Gold tower completed in 2015. Visa and Salesforce are listed as major tenants, according to the Bellevue Downtown Association.

The exact number of local positions eliminated and Visa's square footage in the building have not been publicly disclosed.

McInerney framed AI as a catalyst for the restructuring, writing that the technology is "helping to accelerate this evolution and shape the way work gets done at Visa," according to Business Insider. The company said AI was not the sole driver but has helped reduce repetitive tasks and speed up product development.

Another blow to Bellevue's office corridor

The cuts land on a downtown already absorbing significant tech-sector losses in 2026. Bungie eliminated 292 positions at its headquarters on 106th Avenue NE, with separations beginning Thursday, July 9. Meta cut 699 Bellevue jobs in May.

And as we reported July 30, Microsoft posted its first-ever annual workforce decline, shedding 4,000 U.S. jobs in fiscal year 2026.

Downtown Bellevue's office vacancy rate stood at 23.2% in the second quarter of 2026, as we reported July 9. That figure had improved slightly after The Pokémon Company occupied 369,800 square feet at The Eight tower, but remains elevated by historical standards.

Visa plans to reinvest savings from the layoffs into commercial and money-movement solutions, consumer payments, and value-added services including stablecoins.

Analysts at Evercore ISI said they do not view the cuts as a major concern, describing the move as a way for the company to redirect resources toward higher-growth opportunities.

Visa has not announced any changes to its Bellevue office footprint or disclosed a timeline for local severance and transition support.