Mastercard has beaten Wall Street expectations for fourth-quarter profit on resilient spending, and said it will lay off about 4% of its global workforce to refocus investments in different areas.
The firm's executives told analysts that the restructuring would result in a charge of about $200m in the current quarter.
"Recently, we completed a strategic review of our business. This will result in reductions in some areas and roles, but lead to further investment and increased focus in others," CEO Michael Miebach said.
The job cuts could affect over 1,400 employees, based on total workforce of about 35,300 as of December 2024, according to the company's latest annual filing.
Dublin is home to Mastercard's European Technology Hub and the company employs about 1,500 here.
It is not yet known how the job cuts will impact Mastercard's Irish operation.
When contacted by RTÉ News, a spokesperson for the company said it would not be giving a regional breakdown of how the job cuts will be applied.
The company said that spending has largely held up despite concerns of economic uncertainty fueled by US President Donald Trump's trade policies, sticky inflation and a sluggish labour market.
Mastercard's gross dollar volume, the value of all transactions processed on its platform, rose 7% in the quarter, boosted by resilient spending on travel, leisure and everyday essentials.
Households continue to prioritise necessities, while high earners show little sign of pulling back on discretionary purchases.
Mastercard also reported a 14% jump in cross-border volumes, a metric that tracks spending on cards outside the country they were issued in.
Credit card balances edged up in the latest quarter for U.S. banks, signaling sustained borrowing demand despite high interest rates.
Mastercard reported an adjusted profit of $4.76 per share, surpassing analysts' average expectations of $4.25, and revenue of $8.81 billion, also above estimates of $8.78 billion, according to data compiled by LSEG.
