American Express to Cut 5% of Global Workforce
American Express plans to eliminate 5% of its global workforce as part of a restructuring aimed at making the card company more agile and efficient. Chief Executive Stephen Squeri announced the move on October 23, after the company reported its third-quarter results. With almost 77,000 employees at the end of 2025, the reduction could affect roughly 3,850 positions if applied to that headcount.
The company will record a $336 million restructuring charge in the third quarter. Such charges typically include severance payments, although American Express did not provide a detailed breakdown or specify which countries, offices or business units would be affected.
Squeri said American Express has good momentum but needs to change how it operates to accelerate innovation and compete effectively over the next several years. Management expects the restructuring to improve execution and create more capacity to invest in the company’s business priorities. No timetable for the job cuts was disclosed, and the initial announcement did not include further details about how the reductions would be carried out across the global organization.
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