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Visa cuts 200 IT jobs

Visa is planning to cut around 200 IT jobs as it reduces reliance on in-house contractors at global IT arm Inovant.

As a result of the lay-offs, more of the work will be outsourced, the company said.

Visa is undertaking a major global business restructure, which was announced last month, and the lay-offs follow this announcement.

Visa said the job cuts would make Inovant more “efficient, flexible and competitive”.

The company said Inovant would use outside contractors on fixed-rate contracts to help with development and maintenance.

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