Mastercard Inc. is a payment facilitating company founded in 1966 and headquartered in New York, USA. It offers transaction processing and booking-related payment services. The company’s primary offering is to process payments between banks and card issuers that use Mastercard debit, credit, and prepaid cards.
According to reports, Mastercard has announced plans to lay off 3% of its global workforce, which amounts to 1,000 employees, as part of a restructuring initiative.
The report further mentions that the reorganization is aimed at streamlining operations and focusing on growth areas. The restructuring will cost the company about $190 million USD.
