Earnings·October 23, 2026 at 9:29 AM EDT·2 sources
American Express is cutting 5% of its workforce
AXP -3.7%
AXP · last 30 trading days-3.2% since the news
News
What happened
- American Express is cutting 5% of its workforce.
- The company is taking a $336 million restructuring charge in the quarter, CEO Stephen Squeri said Friday.
Workforce reduction
5%
Restructuring charge
$336 million
Why it matters
The restructuring charge and workforce reduction are relevant to financial-sector cost management, earnings analysis and corporate-finance planning.
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Timeline
- EarlierOct 22American Express brings Airbnb bookings and rewards to Amex Travel platform
- EarlierOct 23American Express Co.: Results of operations
- EarlierOct 23American Express Raises Profit Outlook on Increased Member Spending
- EarlierOct 23Futures Drop as Tech Stocks Slide, Oil Prices Climb Past $101 a Barrel
- First reported by CNBCOct 23American Express is cutting 5% of its workforce
- Payments Dive reportsOct 23Amex to shrink workforce
Who is involved
American Express is cutting 5% of its workforceAmerican ExpressAXPStephen Squeri
CompanyPerson
Sources (2)
- CNBCOct 23American Express is cutting 5% of its workforce
- Payments DiveOct 23Amex to shrink workforce
Related
- Oct 20 · Treasuries Rise as Oil Retreats From Highest Levels in Weeks
- Oct 23 · Decker Outdoor Tumbles on Guidance; Amex to Cut Workforce | Stock Movers
- Oct 23 · Futures Drop as Tech Stocks Slide, Oil Prices Climb Past $101 a Barrel
- Oct 23 · American Express Raises Profit Outlook on Increased Member Spending
- Oct 23 · American Express Co.: Results of operations
- Oct 22 · American Express brings Airbnb bookings and rewards to Amex Travel platform
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