MasterCard to cut 1,000 positions, or 3% of staff, Bloomberg reports

Mastercard is cutting 3% of its staff worldwide, which would work out to about 1,000 people, Paige Smith of Bloomberg reports, citing a company spokesperson. “We recently announced organizational changes, realigning the regions and businesses to accelerate growth and unlock capacity that will enable investment in long-term opportunities,” the spokesperson said in an emailed statement. As the changes are made, the company will “redeploy resources into growth areas.” The majority of the job cut notifications are expected to be completed before September 30, the spokesperson added.