Amex to cut about 5% of staff as it raises profit outlook
American Express plans to cut about 5% of its global workforce after a $336 million restructuring charge, while record revenue rose 9% to $20.1 billion.
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what happened
American Express plans to reduce roughly 5% of its global workforce. According to gurufocus.com, citing Reuters, the move follows a third-quarter restructuring charge. The company reported record revenue of $20.1 billion, up 9%, while billed business rose 8% to $454 billion.
Adjusted earnings climbed 13% to $4.68 per share. The company raised its full-year adjusted earnings forecast to a range of $17.60 to $17.90 per share and booked a $336 million pretax restructuring charge. In the session reported, the shares traded near $318.86, down about 1.94%.
why it matters
Investors are weighing whether recurring savings will outweigh the one-off charge and whether spending growth and cardmember retention hold up as staffing falls. Per gurufocus's GF Value, the stock sat about 1.25% below its $322.89 estimate, leaving little discount against that benchmark.
market impact
AXP and payments peers: lower costs and a higher forecast support earnings expectations, while the one-off charge weighs on near-term results
tags
instruments
sources
- American Express Stocks Fall 1.94% as Company Plans 5% Workforce Cut — gurufocus.com, 23 October 2026 at 18:21 UTC
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