American Express to cut 5% of global workforce amid cost pressures
- 1American Express announced a 5% reduction in its global workforce.
- 2CEO Steve Squires said approximately 3,500 jobs out of 78,000 employees will be affected.
- 3American Express recorded a 9% increase in costs and a total cost of $14.5 billion in the third quarter.
So what's the key point?
American Express has decided to reduce its global staff by 5%. The workforce reduction comes as costs rose to $14.5 billion.
Source Bloomberg · View original ↗
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