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● LIVE Updated 58m ago · 21 sources tracked

American Express Plans to Cut 5% of Global Jobs. The Stock Is Falling on Earnings.

American Express plans to reduce its global workforce by 5% alongside its third-quarter financial results. Chief Executive Stephen Squeri announced the restructuring to prepare the company for artificial intelligence and control operating expenses. The headcount reduction equates to roughly 3,500 to 4,000 employees. Despite reporting higher profits, raised earnings per share guidance, and strong customer retention for the $895 Platinum Card, company shares fell between 3.3% and 3.6% in afternoon trading. Management is taking a $336 million restructuring charge during the quarter to support these operational changes.

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  • ✓ American Express plans to cut 5% of its global workforce.
  • ✓ Chief Executive Stephen Squeri announced the restructuring and a $336 million restructuring charge during the third-quarter earnings report.
  • ✓ Company shares fell between 3.3% and 3.6% following the announcement.
  • ✓ American Express raised its full-year 2026 earnings per share outlook to between $18.30 and $18.60.
🛡️ Source Corroboration: 21 independent reporting domains (100% confidence) ⏱ Read time: ~2 min

What changed

American Express announced third-quarter earnings alongside a plan to eliminate 5% of its global workforce and take a restructuring charge.

Live updates

  1. American Express Cuts 5% of Global Jobs as Stock Falls

    American Express plans to reduce its global workforce by 5% alongside its third-quarter financial results. Chief Executive Stephen Squeri announced the restructuring to prepare the company for artificial intelligence and control operating expenses. The headcount reduction equates to roughly 3,500 to 4,000 employees. Despite reporting higher profits, raised earnings per share guidance, and strong customer retention for the $895 Platinum Card, company shares fell between 3.3% and 3.6% in afternoon trading. Management is taking a $336 million restructuring charge during the quarter to support these operational changes.

    Why it matters

    The job cuts mark the first major workforce reduction for the global payments company in about a decade. The decision highlights how traditional financial institutions are restructuring their operations to integrate artificial intelligence and streamline expenses. While third-quarter earnings beat expectations and full-year earnings per share guidance rose to a range of $18.30 to $18.60, investors reacted negatively to the announcement of layoffs and the associated restructuring costs.

    What is confirmed

    • American Express plans to cut 5% of its global workforce.
    • Chief Executive Stephen Squeri announced the restructuring and a $336 million restructuring charge during the third-quarter earnings report.
    • Company shares fell between 3.3% and 3.6% following the announcement.
    • American Express raised its full-year 2026 earnings per share outlook to between $18.30 and $18.60.

    Still unconfirmed

    • The job cuts will specifically affect approximately 3,500 to 4,000 employees depending on the reporting source.

    What to watch next

    • Monitor the execution and exact headcount of the 5% global workforce reduction.
    • Track full-year 2026 financial performance against the raised earnings per share guidance of $18.30 to $18.60.
    • Observe further deployment or disclosures regarding artificial intelligence integration in Amex operations.
    Sources used for this update (25)
    1. finance.yahoo.com — Yahoo Finance - Stock Market Live, Quotes, Business & Finance News
    2. www.cnn.com — Breaking News, Latest News and Videos | CNN
    3. help.naver.com — Futures Flat As Oil Rebounds After Trump's "Energy Ceasefire" Unravels, Memory Stocks Slide | ZeroHedge
    4. www.bitget.com — Propland Price Prediction , PROPrice Prediction 2025
    5. CNBC — American Express is cutting 5% of its workforce to 'prepare for AI'
    6. WSJ — American Express to Cut 3,500 Jobs
    7. Reuters — AmEx lifts 2026 profit forecast, plans to cut 5% of workforce
    8. Bloomberg.com — Amex to Slash 5% of Headcount as CEO Seeks to Reduce Expenses
    9. ABC News - Breaking News, Latest News and Videos — American Express profit jumps as customers stick with the $895 Platinum Card
    10. AP News — American Express profits rise; company plans to cut workforce by 5%, or about 3,500 employees
    11. Barron's — American Express Plans to Cut 5% of Global Jobs. The Stock Is Falling on Earnings.
    12. Reuters — AmEx CEO says company to cut 5% of total workforce
    confidence 100%
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