Visa Cutting Hundreds Of Jobs
SAN FRANCISCO (KCBS) -- San Francisco based Visa is cutting hundreds of jobs around the globe.
The San Francisco Business Times reports this comes as the company takes over Visa Europe.
The company confirmed what they call a variety of job cuts, but wouldn't say how many or where the cutbacks were.
Sources tell the Business Times that up to 1,500 people have been recently let go, with the company former headquarters in Foster City among the hardest hit.
The company employs 4,000 people in the Bay Area and 11,000 worldwide.
Visa is opening a new office in Palo Alto this month, which will employ about 300 people focused on technology research, business intelligence, data security and new services for merchants.
