American Express announced plans to eliminate 5% of its worldwide workforce on Friday, aligning with industry cuts to replace repetitive administrative roles with technology-driven automation.
American Express Cuts Five Percent of Staff
The company employed approximately 77,000 people at the close of 2025. Squeri explained that the reorganization aims to build a more nimble organization capable of accelerating innovation over the coming years.
We have good momentum, but to accelerate innovation and win over the next few years, we needed to become a more agile and efficient organization.
Stephen Squeri, Chief Executive Officer, American Express
Management Reduces Layers to Prepare for AI
Chief Financial Officer Christophe Le Caillec clarified in an interview with CNBC that the restructuring is designed to make American Express leaner and more agile, as well as to prepare for AI
. Management emphasized that automation requires streamlining organizational hierarchies before deploying software tools at scale.
Le Caillec noted that the firm is reducing management layers. It is widening spans of control to establish a foundation for artificial intelligence applications in upcoming quarters and years.
You don’t want to automate processes that have not been optimally organized. So what we’re doing here is reducing layers and increasing spans of control, so that we can automate and leverage AI in the coming quarters and years.
Christophe Le Caillec, Chief Financial Officer, American Express
During a dedicated portion of his remarks, Squeri discussed deploying AI agents. These are capable of handling customer service interactions with natural conversational voices and tailoring cardholder offers. However, the CEO drew a firm line regarding system security and unmonitored external agents.
We need to protect our customers (and) merchants, and we will only allow agents to access our systems that have been approved either through API channels or MCP.
Stephen Squeri, Chief Executive Officer, American Express
Quarterly Earnings Beat Analyst Estimates
The restructuring announcement accompanied quarterly earnings that surpassed Wall Street projections. American Express reported adjusted earnings of $4.68 per share, beating the average analyst estimate of $4.48 according to data compiled by LSEG.
The company raised its full-year earnings outlook. American Express now expects per-share earnings on an unadjusted basis to range between $18.30 and $18.60, up from its previous guidance. Executives noted that proceeds from selling the company’s stake in Global Business Travel helped fund the restructuring program.
Company shares fell approximately 4% in afternoon trading.
