News
American Express is cutting 5% of its workforce to 'prepare for AI'
Summary by Layoffs News Editorial Desk · As published by CNBC Business
· October 23, 2026
· 1 min read
Photo: CNBC Business · view original
Amex, which reported third-quarter results earlier Friday, is taking a $336 million restructuring charge in the quarter, CEO Stephen Squeri said Friday.
Sources and story details Story provenance No corrections
Summary created by Layoffs News Editorial Desk — automated, rule-governed Published by CNBC Business Original story Read at the source Source published Oct 23, 2026 Indexed here Oct 23, 2026 AI assistance Automated summary drawn from the source’s own published text Prepublication human review No — editorial rules, flagged-item review, and published samples
Every story comes with a passport. How we work · Corrections log
More News Today’s briefing
Frequently asked about this story
What is this story about? Amex, which reported third-quarter results earlier Friday, is taking a $336 million restructuring charge in the quarter, CEO Stephen Squeri said Friday.
When was this published? This article was first published on October 23, 2026 by CNBC Business and curated for Layoffs News readers.
Who reported this story? This story was reported by CNBC Business. To learn more about how Layoffs News selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more News coverage from Layoffs News, or browse our daily briefing and topic hubs .
← Back to all news
More News →
Today’s briefing
Subscribe to newsletter