Visa is going to layoff 10-15% of its employees in November.
They are tracking code commits and annual ratings to decide.
If you are being fired your Manager/Director/Sr Director/SVP has given your name.
Those who have joined post January are safe.
This firing will also include developers, managers, directors etc.
VAS will have the highest count followed by PPT.
This is the second round. Total 6 rounds are planned. If you are safe in this round you might get fired in subsequent rounds. So start preparing for switch.
There is no Job Security in Visa anymore.
62 replies (most recent on top)
How many rounds left?
Vindication
https://www.wsj.com/business/visa-plans-to-lay-off-around-1-400-employees-and-contractors-cd278c71
If it’s only low performers then great
For two years the surveys said “visa does not held accountable the low performances “
Now we have the result. Be careful for what you wish.
Performed based fires happening all around!!
Where? Which teams? Don’t see it happening anywhere.
This is happening right now, a week early
What financial org?
Layoff begins at this week. Hear some friends are impacted in financial org.
It is possible to be laid off during annual review period in the U.S. People have been "re-orged" out during this time. They received their bonus, 60-days on payroll and their severance.
Also, you won't know which teams are impacted until impacted colleagues start talking or names disappear from Outlook starting in January.
Makes no sense. VAS is growing like crazy and has huge revenue goals compared to FY24.
The original post didn't mention layoffs in October, that there would be no bonuses, or that the layoffs would affect the EU, so let's see.
This is shaping up to be nonsense certainly regarding the EU layoffs and "no bonus rumours"
End of Year conversations are happening, managers have been given pots for pay rises and bonuses which they have allocated.
Workers are much more protected in EU than other parts of the org. If they are dishing out pay rises and bonuses mass layoffs are very unlikely
I can confirm there has been no layoffs in EU /VAS. So not sure on this entire story about impending layoffs is true.
I dint hear anything about layoffs yet in Europe, so might be fud
@jisn+1uvmuDma When was this? There have been multiple rounds this year already. Wanted to know if this is ongoing?
What is PPT? Typo for PPD or something else?
Yes they really have drank the Kool-Aid when it comes to AI.
It is a great tool for sure, but not what the C-suite guys (who don’t actually use it to do anything productive) make it out to be.
Visa being Visa, everyone is afraid to tell them that fact.
The AI bubble will be bursting in the industry soon anyway, but knowing the ex-Microsoft types now at the reigns, they’ll continue to push it nonetheless.
Details?
Which team and which org? VAS?
Can confirm this is true. Entire teams laid off both technology and product in EU.
@ipch+1uvmuDma Spot on. But I'll choose # of commits over % of commits tagged AI. Spend 30 minutes fighting Copilot to generate code I could write myself in order for our CTO to act like we're more productive.
Realistically if they're using a metric as misguided as number of commits, I'd rather take the severance and leave it behind the mediocrity of Visa
@icou+1uvmuDma I think you’re exactly the sort of person OP was talking about 😂
PD stands for product development; they develop the product, so of course they know how to deploy it!
RM schedule calls for PRE to click buttons based on the instructions PD provides them. They invent a lot of processes around that to stay relevant, but let’s be real here, that’s what it boils down to.
RM and PRE are by definition middlemen, and Ryan and co. are keen to make the organization more efficient. Code can and will be released without them, and I wager more frequently with fewer “rollbacks”.
I’m not saying there's no place for the current team members, but they need to move with the times or die with the past.
So I believe everyone is sure this is happening as no one has denied it yet
Cuts normally happen on Monday via email and Tues and Wed via MS team.
Again there are inefficiencies in all org. Hope the cut is done quickly. Folks leaving paid good severance and world can move on. Hope they announce layoffs this Friday to make it quick.
Code would never be released without RM and ops team!!!
PD would have to release the code themselves!!!
Be grateful for the teams we have
Hearing first 2 weeks in October for layoffs in India
Fully agreed re: operations team. Innovation scares them, so they stifle it as much as they can.
The writing was always on the wall for them with the advent of containerization.
Speaking of redundant roles - any more restructures planned with RM team? I've got no idea what they do other than file tickets and schedule calls for others to do the work. Maybe some of the RM guys with experience could re-skill in a role that adds more value?
Is your source real? Which orgs please?
The operations team should be laid off.
"Manifest reviews" of wiki pages telling them which buttons to click and next to zero understanding of what those buttons do if something goes wrong.
Never seen a more backwards way of releasing software in my career.
Automate, Automate, Automate!
no doubt champion. I wanted to know if they will be impacted in October.
Ops will be largely laid off due to automation.
any impact for Operations team? Will they face layoff as well?
what would entitlement be if you have 1 and a half years service?
Any speculation for impact on Belfast office ?
What PPT stands for? Where is this team?
This was confirmed to me (that layoffs are going to happen, not the 10-15% number) by my senior director. He also said it would include developers, without having asked.
Is there anyone at leadership level (director and above) here who can confirm this? Has anyone been involved in the layoff planning?
There are a lot of rumors and fear but there is still no clear sign that it is indeed happening.