The company, which employed nearly 77,000 people at the end of 2025, will incur a $336 million restructuring charge during the third quarter to account for the move. Squeri noted that these costs are primarily tied to severance packages for departing staff. While emphasizing that the firm maintains positive momentum, leadership contends that the current organizational structure required adjustment to execute more effectively in a competitive market. This reduction aims to create fiscal space for targeted investments in long-term growth.
American Express Announces Global Workforce Reduction of 5 Percent
Facing a shifting financial landscape, American Express is shedding 5% of its global workforce to streamline operations. CEO Stephen Squeri confirmed the layoffs on Friday, citing a strategic pivot toward increased agility and innovation as the company moves to reallocate resources toward its core business priorities for the coming years.
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