American Express CEO Advocates for Organizational Agility Amid Job Reductions
“We required a more agile and efficient organizational structure,” remarked Stephen Squeri, CEO of American Express.
The continuing ascent of artificial intelligence (AI) has prompted yet another major player in the financial services sector to announce workforce reductions.
American Express joins this trend, revealing substantial job cuts driven by technological advancements.
During a conference call to discuss the company’s third-quarter earnings on Friday, Squeri disclosed that American Express has incurred a restructuring charge of $336 million within the quarter and is poised to eliminate roughly 5% of its global workforce.
“We are experiencing positive momentum; however, to hasten innovation and achieve greater success in the forthcoming years, transformation into a more agile and efficient organization is essential,” he elaborated.
As of December 31, 2025, American Express employed approximately 76,800 individuals, with around 25,900 based in the United States and 50,900 stationed internationally.
Squeri utilized this earnings conference call to elaborate on the company’s endeavors related to AI. “There’s been considerable discussion on the modalities through which organizations leverage AI to enhance productivity, automate processes, and overall streamline operations. We, too, are harnessing AI for these improvements,” he asserted.
Addressing the role of AI in consumer-centric commerce, Squeri indicated that while the landscape is still “in its nascent stages,” agentic transaction volumes remain modest; nonetheless, “the trajectory is unmistakable.”
AI is drastically reshaping how consumers and enterprises discover, assess, finalize payments, and manage their finances and lives, posited Squeri.
“This technology heralds the potential to amplify the value of Amex membership greatly,” he added.
American Express re-entered the financial planning arena in 2021 with the introduction of its My Financial Plan digital platform.
InvestmentNews has sought additional information from American Express regarding the forthcoming job cuts.
Reflecting industry-wide uncertainties, the financial services sector is meticulously evaluating the implications of AI integration.
In tandem with the productivity enhancements offered by AI, Barclays announced a reduction of about 5,000 positions during its own third-quarter results briefing.
CNBC reports that this reduction corresponds to approximately 5% of Barclays’ total workforce.
Earlier in the year, fintech firm Trust & Will also experienced layoffs in connection with an AI-driven restructuring initiative.
According to recent data released by the Bureau of Labor Statistics, employment in financial activities has declined by 129,000 positions since reaching a peak in May 2025, with the majority of job losses concentrated in insurance carriers and related services.
Source link: Investmentnews.com.
