1,400 layoffs were done and planning to hire 3,000
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Ryan made well over 23 million dollars in 2023. Is there real need for a CEO in the age of AI and ML, could be eliminated?? I am sure Visa could just do fine/great with just a fractional CEO, that needs to appear in town halls and in front of congress (as needed) and let the ML/AI make the important decisions, AI is fantastic at making informed decisions. AI is better than him, he knows that. He is just fast talking car sales type. I can assure you that Visa Chat GPT wrote Visa Strategy 2030, just saying.
I am sure Ryan is excited to pass the fuzzy microphone cube around and having a great time in his town halls. 1400 +1000 jobs roles eliminated but 3000 jobs created? in which part of the world? and how it is that nobody seems to be hired that were let go? Should Visa be one of the companies that are laying off American employees as soon as they have Republicans win the elections? Is that the election win strategies he was eluding to? Layoff Americans workers and hire elsewhere?
Ryan is no Al Kelly that's for sure! The reassurance Al gave us during the covid years about job security demonstrated his humanity. This doesn't keep shareholders happy, noting Visa senior staffers have a lot of stock too (vested interest), so we now have a biblebelt salesman running the show. The price of progress apparently.
Alfred F. Kelly will just come to clean up and bring a decent patriot leader not a MAGA
Different people heard different things when listening to Ryan
I thought I heard that the 300ish initial cuts were complete, and that he justified additional coming cuts (which could be the other ~1000 cuts reported by the WSJ)
Others heard that all the cuts were complete
I'm not sure where the truth is but I assume there's going to be a lot of layoffs before end of year.
I don't think Ryan said anything about 1400 cuts being done...
For gods sake let Al retire in peace he’s already approaching 70.
I do not recall Ryan stating that the 1,400 were completed prior to the Townhall.
Once he Totally sc--ws the company, investors will bring back Al (Alfred F. Kelly) for sure. When Charles Schwab retired, David Pottruck sc--wed Schwab and investors have to bring back the founder remember? It is just a matter of time
again it douchebag MAGA Ryan taking 0 responsibility for business stagnation compared to Mastercard and failure of imagination that is hurting the company. Now, instead of focusing on product and business, he is working to get stock price higher. Another d-mb MBA with silver spoon creating rot inside great American companies.
More to come
Does that mean those let go were informed last week already? I'm sorry I feel so confused despite attending the townhall, there were no straight answers.
His words were very careful, headcount increases and changes in the org for 2030 vision.
Look at the leadership OKR, for me it’s very clear that the productivity % increases expected this fiscal year will be done with roles termination.
Go read the OKR, check the metrics, if your role doesn’t contribute to the metric start looking for a job.
He was very careful with his words and said there will be "3000 new developers" but didn't dispute the fact that sales, project managers, and/or other roles will be eliminated.
I liked when he made the comments about how Visa is agile now so they don't need certain roles. A real Michael Scott declaring bankruptcy vibe but without the laughs.
His response to the layoffs was a word salad. Talking about how hard it was for him while taking no personal responsibility. Describing those he let go as spare construction parts the company no longer needs. Repeating that 3000 new hires will be added without explaining if more layoffs will happen or which department or office those new employees will be in. Claiming that the WSJ is out to get them without explaining what was untrue.
Ryan makes 151X the average Visa employee and got a 27% raise last year and this is the best he can do?
Just usual leadership dancing around the actual issue and question.
the filing CA WARN notice report on the day of layoff notice report does not show because 60+ days of pay on termination date.