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American Express to Reduce Workforce by 5% | Markets & Money News
American Express has announced a five percent reduction in its global workforce, impacting nearly 3,850 employees, following the release of their third-quarter results. To accommodate this restructuring, the company will incur a charge of $336 million, primarily for severance. CEO Stephen Squeri emphasized the need for the organization to become more agile and innovative in response to competitive pressures. This move underscores the challenges faced by major companies and will likely influence
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