American Express is cutting 5% of its workforce to 'prepare for AI'
Source: CNBC Business · Oct 23, 2026
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The Money Angle
Business relevance
9/10
- 01American Express is cutting 5% of its workforce, framing the move as preparation for AI.
- 02CEO Stephen Squeri said Amex is taking a $336 million restructuring charge in the quarter.
- 03The announcement accompanied third-quarter results; the supplied text gives no projected savings or details on which workers face cuts.
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American ExpressStephen Squeri
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$AXPThis Money Angle is an AI-assisted summary of reporting by CNBC Business. Figures come only from the source article. Not financial advice.