Visa climbs after Bloomberg report on 7% workforce reduction - V News | RalliesVisa climbs after Bloomberg report on 7% workforce reduction
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V• Visa shares rise after report of planned layoffs
- Shares of payments processor Visa V.N rose 1.9% to $369.5 in premarket.
- The company will cut 7% of its workforce, or about 2,600 jobs, Bloomberg News reported, citing a staff memo.
- Job cuts will primarily affect the technology and product teams, the report added.
- Visa did not immediately respond to a Reuters request for comment.
- 42 of 45 analysts rate the stock “buy” or higher and three “hold”; their median PT is $400, according to data compiled by LSEG.
- As of the last close, the stock was up 3.3% year to date.
