# American Express is cutting 5% of its workforce to 'prepare for AI'

- Source: CNBC
- Published: 2026-10-23T15:04:33+00:00
- Category: Markets
- Original: https://www.cnbc.com/2026/10/23/american-express-job-cuts.html
- Canonical: https://groundlevelnews.com/story/american-express-is-cutting-5-of-its-workforce-to-prepare-for-ai-be088e/

Amex, which reported third-quarter results earlier Friday, is taking a $336 million restructuring charge in the quarter, CEO Stephen Squeri said Friday.

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