American Express Announces Approximately 5% Workforce Reduction and Restructuring
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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.
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- Business Travel NewsAmerican Express to cut about 5% of staff; part of restructuring funding comes from sale of Amex GBT shares
American Express executives said on the earnings call that the company will cut about 5% of positions in a global restructuring, recording $336 million in restructuring charges in the third quarter, with part of the funding coming from the sale of its stake in American Express Global Business Travel. Bloomberg reported that the cuts amount to about 3,500 positions. U.S. business customers' travel and entertainment spending rose 7% year over year in the third quarter, while overall spending rose 3% year over year.