Macro Finance
American Express is cutting 5% of its workforce to 'prepare for AI'
CNBC Business·October 23, 2026·1 min read
American Express is cutting 5% of its workforce to prepare for AI, CEO Stephen Squeri said Friday. The company took a $336 million restructuring charge in the third quarter, which it reported earlier that day. The layoffs are part of a broader strategy to integrate artificial intelligence into its operations.
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