Business6 sources
American Express to Cut 5% of Workforce, 3,500 Jobs
- American Express is cutting 5% of its workforce, equivalent to 3,500 jobs globally.
- The company reported third-quarter results and is taking a $336 million restructuring charge.
- CEO Stephen Squeri cites the need to prepare for AI and reduce expenses as reasons for the cuts.
- Despite the layoffs, American Express raised its 2026 profit forecast.
- The restructuring aims to enhance operational efficiency and workflow.
Articles (8)
Google News·
American Express to Cut 5% of Global Workforce
CNBC·
American Express is cutting 5% of its workforce to 'prepare for AI'
The Wall Street Journal·
American Express to Cut 3,500 Jobs
Bloomberg·
Amex to Slash 5% of Headcount as CEO Seeks to Reduce Expenses
Amex to Slash 5% of Headcount as CEO Seeks to Reduce Expenses
Reuters·
AmEx lifts 2026 profit forecast, plans to cut 5% of workforce
The Times of India·
Amex to cut 3,500 jobs globally despite raising 2026 profit forecast
AmEx CEO says company to cut 5% of total workforce