American Express Reportedly Plans to Cut 5% of its Global Workforce

09:20 AM EDT, 10/23/2026 (MT Newswires) -- American Express (AXP) is cutting 5% of its global workforce in a bid to control rising costs, Bloomberg reported Friday. The company said it took a restructuring charge in Q3 on account of its plant to reduce its workforce, according to Reuters. American Express did not immediately respond to MT Newswires' request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)