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At a glance
The company will take a $336 million restructuring charge in the quarter, according to CEO Stephen Squeri.
What the briefing reports
American Express plans to cut about 5% of its global workforce, a move aimed at reducing layers and speeding up decision making. The company will take a $336 million restructuring charge in the quarter, according to CEO Stephen Squeri.
This restructuring charge is reportedly to prepare for AI, although the exact implications of this preparation are unclear, and the company had almost 77,000 employees at the end of 2025, giving an idea of the scale of the job cuts. American Express reported third-quarter results and announced the job cuts as part of its efforts to restructure.
The company's decision to cut its workforce is intended to improve efficiency and speed up decision-making processes. With the restructuring charge and job cuts, American Express is taking steps to prepare for future challenges and opportunities.
Cited sources
Updates and corrections
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