American Express Stock Falls as CEO Announces Plan to Cut 5% of Workforce

thecryptobasic2026-10-23 14:38:12

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American Express Stock Falls as CEO Announces Plan to Cut 5% of Workforce

American Express (NYSE: AXP) shares fell 3% to $315.38 in early trading Friday after the payments giant announced plans to cut about 5% of its global workforce, even as its third-quarter adjusted earnings surpassed Wall Street expectations. Chief Executive Officer Stephen Squeri disclosed the planned reductions during the company's earnings conference call.

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