American Express to Slash 5,400 Jobs

Mostly in its travel business

American Express says it will slash roughly 5,400 jobs, mainly in its travel business, and book a $287 million restructuring charge. As a result, the credit card company projects that it will report a drop in fourth-quarter in adjusted net income from a year ago.

On Thursday American Express said its fourth-quarter earnings will amount to $637 million or 56 cents per share, reflecting charges for restructuring, Membership Rewards expenses and cardmember reimbursements. Excluding one-time items, the company expects earnings of $1.2 billion or $1.09 per share.

Comments

[Sevo]

We don't accept AmEx. They are generous to the cardholders and that money comes from the sellers. Not from us.

[the origin of the feces]

Fear not, 5,400, His Majesty King Obama will have the economy going gang-busters by mid-Spring, then you'll all have much better far higher paying employment for the rest of your mortal lives!

[CHAUSSURES FEMME AIR MAX 90]

restructuring charge. As a result, the credit card company projects that it will report a drop in fourth-quarter in adjusted net income from a year ago.