American Express announces plans to cut 5% of its global workforce as it prepares for AI automation

Techstrong.ai reports American Express announced plans to cut 5% of its global workforce, affecting roughly 3,840 employees, and take a $336 million restructuring charge. CFO Christophe Le Caillec said the company wants to reduce layers before automating internal processes. The Next Web, citing Amex’s earnings release, reports record third-quarter revenue of $20.1 billion.