Mastercard is set to reduce approximately 3% of its global workforce, equating to around 1,000 employees, as part of a strategic reorganization announced earlier this year. The restructuring aims to refocus resources on growth areas and strengthen the company's position in international markets.

The majority of affected employees will be notified by the end of the current quarter, with the changes aligning with Mastercard's broader strategy to enhance operational efficiency and drive long-term growth. The company has not specified the regions most impacted by the workforce reductions but has committed to supporting those affected.

As part of this reorganization, Mastercard plans to invest more heavily in emerging technologies and expand its presence in international markets. The company is concentrating on value-added services, such as data analytics, fraud prevention, and cybersecurity, while continuing to advance digital payment solutions.

In conjunction with this announcement, Mastercard reported strong financial performance for the second quarter, with net revenue increasing by 11% to $7 billion and net income rising by 15% to $3.3 billion. Despite these gains, operating expenses also grew, prompting the company to take decisive action to realign its organizational structure and enhance its competitive advantage in the global market.

Mastercard continues to focus on innovation, recently launching new products and partnerships, including a crypto-to-fiat card in collaboration with MetaMask and Baanx, as well as enhancements to its open banking program. These initiatives underscore Mastercard's commitment to leading the shift to digital and driving value for its customers and partners worldwide.