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● LIVE Updated 4h ago · 14 sources tracked

American Express profit jumps as customers stick with the $895 Platinum Card

American Express reported a sharp rise in third-quarter profits, driven by a successful transition to its higher-fee Platinum Card. The company is cutting 5% of its workforce, or about 3,500 employees, to 'prepare for AI'. Despite this, customers are sticking with the $895 Platinum Card, contributing to the profit increase.

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⚡ Key Developments & Real-Time Context
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  • ✓ American Express profit jumps as customers stick with the $895 Platinum Card
  • ✓ American Express is cutting 5% of its workforce, or about 3,500 employees
  • ✓ The company is cutting jobs to 'prepare for AI'
🛡️ Source Corroboration: 14 independent reporting domains (85% confidence) ⏱ Read time: ~2 min

What changed

American Express reported its third-quarter profits and announced plans to cut 5% of its workforce.

Live updates

  1. American Express profit jumps as customers stick with $895 Platinum Card

    American Express reported a sharp rise in third-quarter profits, driven by a successful transition to its higher-fee Platinum Card. The company is cutting 5% of its workforce, or about 3,500 employees, to 'prepare for AI'. Despite this, customers are sticking with the $895 Platinum Card, contributing to the profit increase.

    Why it matters

    American Express has been transitioning its members to a higher-fee Platinum Card, which has led to a significant increase in profits. The company's decision to cut its workforce is part of its efforts to reduce expenses and prepare for future growth. The success of the Platinum Card and the workforce reduction are key developments for the company.

    What is confirmed

    • American Express profit jumps as customers stick with the $895 Platinum Card
    • American Express is cutting 5% of its workforce, or about 3,500 employees
    • The company is cutting jobs to 'prepare for AI'

    What to watch next

    • American Express's future financial performance
    • The impact of AI on the company's operations
    • The company's plans for future growth and expense reduction
    Sources used for this update (14)
    1. abcnews.com — ABC News - Breaking News, Latest News and Videos
    2. help.naver.com — Futures Flat As Oil Rebounds After Trump's "Energy Ceasefire" Unravels, Memory Stocks Slide | ZeroHedge
    3. contents.premium.naver.com — [잠옷입고 경제공부] 세계 무역지도를 바꿀 사건!
    4. CNBC — American Express is cutting 5% of its workforce to 'prepare for AI'
    5. WSJ — American Express to Cut 3,500 Jobs
    6. Reuters — AmEx lifts 2026 profit forecast, plans to cut 5% of workforce
    7. Bloomberg.com — Amex to Slash 5% of Headcount as CEO Seeks to Reduce Expenses
    8. ABC News - Breaking News, Latest News and Videos — American Express profit jumps as customers stick with the $895 Platinum Card
    9. AP News — American Express profits rise; company plans to cut workforce by 5%, or about 3,500 employees
    10. Reuters — AmEx CEO says company to cut 5% of total workforce
    11. Yahoo Finance — American Express (AXP) stock trades down, here is why
    12. www.news4jax.com — American Express profit jumps as customers stick with the $895 Platinum Card - News4JAX ,WJXT Channel 4
    confidence 85%
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