American Express is cutting 5% of its global workforce as the card company seeks to become more agile and efficient, chief executive Stephen Squeri said on Friday.
The company is taking a 336 million US dollar restructuring charge in the third quarter, which Mr Squeri told analysts would typically include employee severance costs.
American Express had almost 77,000 employees at the end of 2025. The announcement came as the company reported its third-quarter results.
“We’ve got good momentum, but to accelerate innovation and win over the next few years, we needed to become [a] more agile and efficient organization,” Mr Squeri said.
He added: “We believe this exercise will help us operate and execute more effectively and give us greater capacity to invest in our business priorities.”
