American Express plans workforce reduction tied to AI restructuring

American Express announced plans to cut about 5% of its 77,000 global workforce — roughly 3,850 positions — as part of an AI-driven restructuring that also prompted a $336 million charge. CFO Christophe Le Caillec said the cuts aim to reduce layers and prepare the company to automate processes optimally. The company exceeded Q3 profit estimates but acknowledged slower underlying pretax profit growth, and the restructuring influenced its profit forecast and one-time charges. The move is part of broader industry cost-cutting among lenders, with Amex framing the reductions as necessary ahead of automation work.

American Express Company cut 3,500 jobs.

That is roughly 4.7% of the 74,600 people American Express Company employs.

LayoffTalk has tracked 2 layoff events at American Express Company since July 2025, with 2 additional events known from news reporting.