Payment operator Mastercard has announced a 3% reduction in global headcount as part of a large-scale reorganization of the company. The decision, which will affect approximately 1,000 employees, is part of a company strategy announced earlier this year. The Purchase, New York-headquartered company employed 33,400 people at the end of last year, according to the latest figures.
According to a Reuters report, these cuts are part of a broader optimization plan that involves reallocating resources to areas that have more potential for growth. A Mastercard representative said the company is trying to focus its efforts on expanding into new markets, as well as strengthening its cybersecurity and anti-fraud division.
Mastercard's chief financial officer, Sachin Mehra, confirmed that the company will incur a one-time charge of $190 million in the three months ended September 30 as a result of the restructuring. This decision is part of the company's overall strategy aimed at increasing efficiency and adapting to new market conditions.
