American Express to cut about 5% of its global workforce

American Express is cutting about 5% of its global workforce, the company said.[1] The reported employee impact varies by source: one estimate puts it at approximately 3,800, based on a year-end headcount of about 76,800, while another says the reduction amounts to about 3,500 jobs.[2][3] CNBC reported that Amex had almost 77,000 employees at the end of 2025.[1] The company is taking a $336 million restructuring charge.[1] The evidence does not specify when the reductions will occur or which teams or locations will be affected.

American Express said it is reducing organizational layers and increasing managers’ spans of control to enable automation and AI use.[1] The company described the restructuring as a way to become leaner and more agile and to prepare for AI.[1] Those stated goals link the staffing action to a broader organizational redesign, rather than providing details about specific jobs or systems being changed. For leaders assessing the announcement, the disclosed rationale is organizational simplification and technology adoption; the evidence does not quantify expected productivity gains or identify which work will be automated.

CEO Stephen Squeri devoted 10 minutes of his prepared remarks to AI, focusing mainly on personalizing cardholder experiences and offers.[1] He said American Express would allow outside agents to access its systems only through approved API or MCP channels.[1] Separately, the company introduced an Intent Intelligence framework for trusted agentic commerce and announced Resy integrations, including one with OpenAI.[4] These disclosures describe areas of focus and an access condition, but they do not establish how widely the tools are deployed or what results they have produced.

American Express reported third-quarter revenue of $20.1 billion, up 9% year over year, and net income of $3.7 billion, compared with $2.9 billion a year earlier.[4] It raised its full-year unadjusted earnings guidance to $18.30–$18.60 per share, from $17.30–$17.90.[1] The company said it remained on track for another year of 10% revenue growth.[4] CNBC reported that Amex shares fell roughly 4% in afternoon trading.[1] The company attributed revenue growth mainly to higher card-member spending, increased net interest income, and strong card-fee growth.[4]