AmEx plans 3,500 job cuts, raises 2026 forecast

American Express said it will cut about 5% of its global workforce—roughly 3,500 jobs—as part of a restructuring aimed at reducing costs, removing organizational layers and speeding decision-making. The announcement followed third-quarter adjusted earnings of $4.68 per share, above analyst expectations, and the company raised its full-year profit outlook. Billed business rose 8% to $454 billion, though that total fell short of one analyst consensus estimate; travel and entertainment spending increased 10%, led by airline and restaurant purchases. The results underscore the strength of spending by affluent customers even as the company works to improve efficiency and invest in growth.