Mastercard is planning to lay off 3% of staff globally

Mastercard is planning cutting 3% of employees globally, according to a Friday media report. Based on the payment network's employee count at the end of last year, that would equate¹ to about 1,000 people.

At the end of 2023, Mastercard (MA) employed some 33.4K people worldwide, according to its latest annual report, with about 67% located outside of the U.S. in over 80 countries.

“We recently announced organizational changes, realigning the regions and businesses to accelerate growth and unlock capacity that will enable investment in long-term opportunities,” a company spokesperson told Bloomberg in an emailed statement.

Most of the layoff² notifications are expected to be completed by Sept. 30, 2024.