Mastercard has completed a review of its business that will impact about 4% of its full-time employees, the payment processor’s CFO, Sachin Mehra, said on Thursday.
“Based on the recent strategic review of our business, we expect to record a one-time restructuring charge in Q1 of approximately $200 million,” Mehra said on a call with analysts.
Visa, Mastercard to pay $167.5 million in ATM user fee settlement
Visa and Mastercard have agreed to pay a combined $167.5 million to settle a class action lawsuit accusing them of conspiring to keep ATM access fees artificially high.
The proposed settlement was filed on Thursday in the federal district court in Washington and requires a judge’s approval.