https://www.live-feeds.com/feed/amex-stock-drops-after-company-joins-list-of-those-cutting-jobsContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/amex-stock-drops-after-company-joins-list-of-those-cutting-jobshttps://www.live-feeds.com/feed/amex-stock-drops-after-company-joins-list-of-those-cutting-jobs#u156923Tue, 27 Oct 2026 03:41:36 +0000American Express is cutting 5% of its workforce, or 3,500 jobs, to prepare for AI and reduce expenses. The company's stock dropped after the announcement. This move is part of a larger trend of companies making significant job cuts. Amex reported third-quarter results earlier on Friday.Why it mattersThe job cuts are part of American Express's efforts to streamline operations and prepare for an increasingly AI-driven future. The company's CEO, Stephen Squeri, mentioned a $336 million restructuring charge in the quarter. This move comes after other major companies announced signif