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Mastercard plans to cut its global employment by 3% as part of a strategic reorganization to focus on its core activities.
Mastercard is set to reduce its global headcount by 3% as part of a strategic reorganization aimed at refocusing on its core businesses. According to the company’s most recent workforce data, this move will affect approximately 1,000 employees. The Purchase, a New York-based company, reported having 33,400 employees at the end of last year.
Bloomberg News first reported this workforce reduction. Most of the impacted employees will be notified by the third quarter.
According to a Mastercard spokesperson, the company plans to redeploy resources into growth areas as part of the reorganization. This includes expanding into new markets and strengthening the unit responsible for cyber and anti-fraud operations.
Last month, Mastercard’s CFO Sachin Mehra announced that the company would record a one-time restructuring charge of $190 million for the quarter ending on September 30.
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