American Express Cuts 5% of Workforce for AI. What It Means for Customers

American Express is cutting about 5% of its global workforce to prepare for AI, according to CEO Stephen Squeri and CFO Christophe Le Caillec. The company had almost 77,000 employees at the end of 2025.

The restructuring was to make American Express "leaner, more agile, and also to prepare for AI." Le Caillec said they are reducing layers and increasing spans of controls to automate and take advantage of AI.

Amex posted quarterly results that topped Wall Street profit expectations with adjusted earnings per share of $4.68, beating the $4.48 average estimate of analysts.

Shares of the card company fell roughly 4% in afternoon trading.

Will these job cuts change what shoppers or cardholders pay? No; the company announced job cuts and ongoing hiring in priority areas, not a fee or price cut.