Mastercard plans to decrease worldwide employees by 3 percent

(MENAFN) Mastercard is set to reduce its global workforce by 3 percent, as reported on Friday. The decision affects around 1,000 employees out of the company's total workforce of approximately 33,400, as of the end of 2023. This reduction represents a significant step for the multinational payment card services provider, which has a substantial presence in various regions across the globe.

As per the latest annual financial report, a considerable majority of Mastercard's employees—about 67 percent—are based outside the United States. The company operates in over 80 countries, reflecting its extensive international footprint. The planned workforce reduction will impact employees across these various locations, demonstrating the company's broad reach and the global scale of its operations.

The layoffs are anticipated to be carried out before the end of September, with most notifications expected to be completed by September 30. This timeline is part of Mastercard's strategic adjustments to streamline its operations and optimize efficiency. The company has not detailed the specific departments or regions that will be affected by the layoffs.

Mastercard’s decision to reduce its workforce comes as part of a broader trend among multinational corporations to reassess and realign their operational structures. This move reflects ongoing efforts to adapt to changing market conditions and operational challenges, aiming to enhance the company's overall performance and sustainability in a competitive global market.

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