Mastercard is cutting 4% of its global workforce (approximately 1,600 roles) following a strategic review. This guide covers severance rights, timelines, and next steps for Canadian employees.
On January 29, 2026, Mastercard said it would reduce about 4% of its full-time staff worldwide, taking a restructuring charge of around $200 million in Q1 2026. The company remains profitable; the cuts are part of a strategic realignment, not a crisis.
What this means for employees:
Who may be affected:
Your layoff is tied to business strategy, not individual performance.
If you’ve been notified in Canada, focus on a few essentials.
Confirm your status:
Understand your severance:
Document everything:
If you have RSUs or stock options, ask exactly what happens to unvested equity and get it in writing.
Do not feel pressured to sign a severance offer right away. Many employees have more room to negotiate than they realize.
Mastercard’s severance packages for Canadian employees generally include some combination of pay after your last working day, potential treatment of bonus and equity, and access to benefits for a limited time.
The exact package can vary based on your role, tenure, and contract terms, so it is important to review your letter carefully and ask questions if anything is unclear. Rather than focusing on a specific number of weeks or months, make sure you understand what pay, benefits, and equity are covered and what happens to them after your employment ends.
What to negotiate:
Canadian employees benefit from both statutory minimums and potential common law entitlements.
Employment Standards Act minimums (Ontario example):
These are floor amounts, not typical outcomes for professionals.
Courts also look at:
For some long-tenured or senior employees, common law severance can reach many months of pay.
You can often negotiate:
You generally have up to two years from your termination date in Canada to pursue full severance, even if the offer sets a much shorter signing deadline.
Mastercard experience travels well across fintech, banking, and tech.
Transferable strengths:
Target sectors:
On your resume, replace internal project names with clear outcomes, such as “Reduced transaction processing time by 40% for high-volume merchants,” rather than internal codes.
Remove Mastercard jargon from your resume. Instead of internal project names or acronyms, describe what you built, the problem you solved, and the business impact. "Led cross-functional team that reduced transaction processing time by 40%" works better than internal project codes.
Resume positioning strategies:
Government resources:
Legal resources:
Consider consulting an employment lawyer if:
Many employment lawyers offer free initial consultations.
Important
You have up to two years from your termination date to pursue full severance pay in Canada. Don't let employer-imposed deadlines pressure you into signing before you're ready. These deadlines are often negotiable.
Mental health support:
Job loss is stressful, even when severance is generous. These resources can help:
Networking:
Your goal is a resume that explains your work in plain business terms, with metrics and impact, not Mastercard-specific jargon.
Yotru’s resume builder helps payments and fintech professionals:
You can start here: Yotru's resume builder
Team Yotru
Employability Systems & Applied Research
Team Yotru
Employability Systems & Applied Research
We build career tools informed by years working in workforce development, employability programs, and education technology. We work with training providers and workforce organizations to create practical tools for employment and retraining programs—combining labor market insights with real-world application to support effective career development. Follow us on LinkedIn.
Mastercard is cutting approximately 4% of its global full-time workforce, which translates to roughly 1,400 to 1,600 employees based on the company's headcount of approximately 35,000 as of December 2024. The exact number of Canadian employees affected has not been disclosed.
This article is written for Mastercard employees in Canada affected by the February 2026 layoffs. It provides practical guidance for understanding severance rights, negotiating offers, and navigating career transition in the fintech industry.
Yotru content prioritizes accuracy, neutrality, and evidence-based guidance. All factual claims are verified against company statements, reputable reporting, and authoritative sources. Articles are updated as new information becomes available.
This article draws on publicly available reporting about Mastercard's Q1 2026 restructuring from Reuters, RTE News, The Journal, and MarketScreener, as well as Canadian employment law resources and Yotru's applied research on job search strategy and career transition for fintech professionals.
This article is for informational purposes only and does not constitute legal, financial, or career advice. Severance entitlements depend on individual circumstances, employment agreements, and provincial regulations. Readers should consult qualified professionals, including employment lawyers, for guidance specific to their situation.
Layoff Support and Career Transition
Resume and Job Search Strategy
Related Fintech and Tech Layoffs
If you are working on employability programs, hiring strategy, career education, or workforce outcomes and want practical guidance, you are in the right place.
Yotru supports individuals and organizations navigating real hiring systems. That includes resumes and ATS screening, career readiness, program design, evidence collection, and alignment with employer expectations. We work across education, training, public sector, and industry to turn guidance into outcomes that actually hold up in practice.
Part of Yotru's commitment to helping professionals succeed in real hiring systems through evidence-based guidance.
More insights from our research team
Whirlpool laid off 341 employees in February 2026 citing a multi-year modernization plan. Practical guidance on severance, rights, and your next steps.
This analysis compares five Executive Assistant resumes across healthcare, tech, corporate, and remote environments. It shows how positioning, tools, and measurable impact influence hiring decisions in 2026.
Senior SDR resume review breaking down SaaS outbound experience, pipeline metrics, and practical tips job seekers can copy to stand out in tech sales.
Windsor's unemployment rate reached 8.1% in January 2026, up from 7.6% in December, ranking the city tied for sixth-highest among major Canadian cities as manufacturing job losses continue to pressure the local economy.
