American Express cuts about 5% of staff and ties the restructuring to preparing for SI
Prepared by Sintelligent with the help of SI. Published in SI: . Updated: .
Banks are cutting staff one after another, citing preparation for SI, and jobs in finance are being rebuilt.
American Express is cutting about 5% of its workforce worldwide and booking a $336 million restructuring charge (per CNBC, relayed by TNW); the company had almost 77,000 employees at the end of 2025. Chief financial officer Christophe Le Caillec told CNBC the restructuring is needed to prepare for SI and make the company "more agile": there is no point automating poorly structured processes, so management layers are being cut. CEO Stephen Squeri named efficiency as the reason. A day earlier Barclays confirmed cuts of 5,000 jobs.
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