Key facts
- ServiceNow has cut hundreds of jobs globally.
- The job cuts at ServiceNow are part of a global restructuring effort.
- A low single-digit percentage of ServiceNow's workforce was affected.
- The ServiceNow job cuts occurred over several months this year.
- Visa plans to cut approximately 7% of its global workforce.
- Visa's planned cuts amount to about 2,600 jobs.
- A Bloomberg News report cited a staff memo for Visa's plans.
- Both companies are undertaking significant workforce reductions.
Software company ServiceNow has implemented global job cuts, affecting several hundred employees as part of a restructuring initiative. A company spokesperson confirmed that a "low single-digit" percentage of its total workforce was impacted over the course of several months this year. This move signifies a broader trend of workforce adjustments within the tech sector.
In parallel, payments processor Visa is reportedly planning substantial layoffs. According to a Bloomberg News report, which cited an internal staff memo, Visa intends to cut approximately 7% of its global workforce. This reduction is expected to result in the elimination of about 2,600 jobs. The decision by Visa underscores ongoing economic pressures and strategic realignments affecting major financial technology companies.