American Express Announces Approximately 5% Workforce Reduction and Restructuring

On October 23, 2026, Business Travel News reported that American Express executives said on an earnings call that the company will cut approximately 5% of positions in a global restructuring, with a $336 million restructuring charge recorded in the third quarter, partly funded by the sale of its stake in American Express Global Business Travel. Bloomberg reported that the reduction amounts to approximately 3,500 positions. The same report said U.S. business customers' third-quarter travel and entertainment spending rose 7% year over year, while overall spending rose 3% year over year. Current status: the workforce reduction and restructuring plan has been publicly announced; the report did not mention an implementation timetable or phased arrangements.