American Express Plans Global Workforce Reduction of 5% Amid Organizational Restructuring

Key summary

American Express announced plans to reduce its global workforce by approximately 5%, with CEO Stephen Squeri stating on October 23 that the company will record $336 million in restructuring charges for the third quarter. The reduction aims to increase organizational agility and efficiency, preparing the firm for future artificial intelligence (AI) adoption while maintaining competitiveness. CFO Christophe Le Callet noted that streamlining management layers is necessary before automating processes, allowing the company to better leverage AI in upcoming quarters. As of year-end 2025, American Express employs nearly 77,000 people globally.