Visa is reducing its workforce in the Bay Area, with significant job losses expected. The company plans to cut 320 employees at its Foster City office. These local layoffs are part of a larger reduction in force, with a total of 2,600 jobs being eliminated.

The majority of the layoffs are in technology and product operations. Further details on the layoffs can be found through California state filings and a memo reviewed by Bloomberg, which initially reported the sweeping layoffs. The job cuts are set to take effect on October 1.