Amex is eliminating 5% of its global workforce and taking a $336 million restructuring charge, CEO Stephen Squeri told analysts Friday on the company’s third-quarter earnings call. The firm had almost 77,000 employees at the end of 2025.
Chief Financial Officer Christophe Le Caillec told CNBC in an interview that the restructuring was to make American Express “leaner, more agile, and also to prepare for AI. So what we’re doing here is to reduce layers and increase spans of controls, so that we can automate and take advantage of AI in the coming quarters and the coming years.”