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Confirmed announcement on October 23, 2026: CEO Squeri disclosed the expected 5% global position reduction on the Q3 earnings call. This dates the disclosure, not completed departures; no completion date is claimed.[1]- Inizio
- 23 ott 2026AFFIDABILITÀ 90%da la fonte
American Express Announces a 5% Global Workforce Reduction
American Express disclosed a $336 million restructuring charge on October 23 and said the plan is expected to eliminate about 5% of positions globally. The announcement accompanied record Q3 revenue of $20.062 billion and higher full-year earnings guidance.
- On the October 23 call, CEO Stephen Squeri said the quarter’s $336 million restructuring charge was expected to eliminate approximately 5% of positions globally. The charge is recognized; the expected job reductions are a plan, not a count of completed dismissals.[2]
- Management described reducing organizational layers and focusing teams on priorities. CFO Christophe Le Caillec told CNBC that making processes more efficient would help prepare for AI automation over future quarters and years. This does not establish that AI had already replaced every affected role.[3]
- Q3 revenue net of interest expense reached $20.062 billion, up 9%; net income was $3.712 billion and reported EPS $5.42. Adjusted EPS was $4.68, up 13%, excluding the travel-investment sale gain net of restructuring.[1]
- The company raised full-year reported EPS guidance to $18.30–$18.60 and adjusted guidance to $17.60–$17.90, while reaffirming 10% revenue growth. The $982 million pre-tax GBTG equity-sale gain is distinct from the $336 million restructuring charge.[1]
- CNBC reports nearly 77,000 employees at the end of 2025. The pin retains management’s approximately 5% figure because a historical workforce denominator does not establish an exact current number of redundancies. No country, office closure or completion date is inferred.[3]
Costo $336M (≈€309.1M)