This week, American Express announced that it would be cutting 5,400 jobs to reduce its headcount, according to an article on CCNMoney.com.
Most of the jobs that are cut will be from its travel business. By year’s end, the company’s workforce should be reduced by 4% to 6%.
In the article, CEO Kenneth Chenault said, “Against the backdrop of an uneven economic recovery, these restructuring initiatives are designed to make American Express more nimble, more efficient and more effective in using our resources in drive growth.”
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