American Express to Cut 5% of Global Workforce, or About 3,850 Jobs, Ahead of AI Shift
JH Kim
Summary
- American Express said it will cut about 3,850 employees, or roughly 5% of its global workforce.
- The company said the job cuts are intended to make the organization leaner and more agile while preparing for AI.
- It said the layoffs are part of a restructuring effort to adjust its operating model and prepare for AI adoption.
American Express will cut about 5% of its global workforce as the financial services company streamlines operations and prepares for the artificial intelligence era.
Cointelegraph reported on October 23, citing the company's chief financial officer, that the layoffs will affect about 3,850 employees, equal to 5% of its total workforce.
The CFO said the cuts are intended to make the organization leaner and more agile while preparing for AI.
The layoffs are part of a restructuring effort to adjust the company's operating model and prepare for AI adoption.
JH Kim
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