Key facts
- American Express plans to cut approximately 5% of its global workforce.
- CEO Stephen Squeri announced the workforce reduction plan on Friday.
- The company took a restructuring charge in the third quarter.
American Express is planning to eliminate approximately 5% of its global workforce, according to CEO Stephen Squeri. He informed analysts of the plan during a post-earnings call on Friday. The company recorded a restructuring charge in the third quarter to facilitate these workforce reductions. The announcement comes amid a broader trend of significant job cuts across various industries in 2026, driven by factors including artificial intelligence, public policy shifts, and economic conditions.