- 3,500 jobs eliminated: American Express plans to cut approximately 5% of its global workforce.
- Profits surge 28%: Q3 2026 net income reached $3.71 billion, despite planned layoffs.
- Revenue grows 9%: Quarterly revenue climbed to $20.06 billion, reflecting strong customer demand.
- AI drives restructuring: Executives cited automation, efficiency, agility, and preparation for artificial intelligence.
- $336 million restructuring charge: The company recorded significant costs associated with organizational changes.
- Customer spending increases: Average quarterly cardmember spending rose 5% to $6,375.
- Earnings outlook improves: American Express raised its full-year adjusted EPS forecast to $17.60-$17.90.
https://americanbazaaronline.com/2026/10/24/american-express-to-cut-3500-jobs-despite-28-profit-surge-490669/