American Express announced plans to cut approximately 3,500 jobs, equivalent to about 5% of its global workforce. The cuts will be carried out as part of a workforce restructuring initiative to prepare for AI adoption.
US card giant American Express has announced plans to reduce its global workforce by approximately 5%. The cuts will affect approximately 3,500 employees across the company.
The move is said to reflect efforts to streamline the organization and restructure the workforce in preparation for AI adoption, with the scope covering more than 77,000 employees worldwide.
The company plans to book $336 million (approximately ¥52.8 billion) in restructuring costs in connection with the workforce reduction.