American Express Cuts 5% of Workforce, Takes $336M Charge to Restructure for AI
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American Express announced Friday that it is eliminating 3,850 positions—approximately 5% of its global workforce—and taking a $336 million restructuring charge, marking the latest major financial services company to accelerate automation through organizational lean-down. CEO Stephen Squeri revealed the cuts during the company's third-quarter 2026 earnings call, explicitly framing the move as preparation for artificial intelligence deployment across the organization.
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