Amex slashes 3,500 jobs and joins cull across finance world

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  "signal_type": "news",
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  "detected_at": "2026-10-23T20:24:00+00:00",
  "company": {
    "name": "American Express",
    "domain": "americanexpress.com"
  },
  "data": {
    "url": "https://www.the-independent.com/us/money/american-express-layoffs-ai-b3072451.html",
    "title": "Amex slashes 3,500 jobs and joins cull across finance world - www.the-independent.com",
    "excerpt": "Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Membership today. Already a member? Log in American Express revealed plans Friday to cut around 3,500 jobs – about 5 percent of its global workforce – as the company’s executives admitted that artificial intelligence was a factor. The cuts mark Amex’s first major round of layoffs in nearly a decade. The credit card giant said the move would streamline operations while allowing it to continue investing in the business but did not specify which departments or locations would be affected. Chief Executive Stephen Squeri said the company wants to reduce management layers, speed up decision-making and position for future growth, according to The Wall Street Journal . AI is also a factor in the restructuring. Chief Financial Officer Christophe Le Caillec told CNBC that the changes would help American Express become “leaner, more agile, and also to prepare for AI .” Amex’s layoffs come after other major staff cuts at banks and credit card companies, including Barclays and Citigroup, as financial firms become the latest white-collar industry to feel the intense impacts of AI. Economists are increasingly concerned about the impacts of AI on millions of white-collar jobs, including customer service, bookkeeping, payroll and HR, The New York Times reported in June. Many of these jobs...",
    "summary": "American Express posted third-quarter net income of $3.71 billion, up 28 percent year-over-year.",
    "planning": false,
    "image_url": "https://static.the-independent.com/2026/10/23/20/83496371..?trim=0,0,0,0&width=1200&height=800&crop=1200:800",
    "confidence": 0.9,
    "published_at": "2026-10-23T20:24:00Z",
    "article_sentence": "The company posted net income of $3.71 billion, up 28 percent from $2.9 billion a year earlier.",
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