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American Express Co will cut more than 4,000 jobs this year, an executive said, after the credit card company also reported higher quarterly expenses and provisions for bad loans. The planned redundancies, from a workforce of nearly 63,000, contributed to American Express reported fourth quarter earnings Wednesday that beat top and bottom line estimates, touting increased cardholder spending and higher loan balances. A spokesperson also confirmed to Forbes it will cut slightly more than 4,000 jobs over the American Express job cuts will eliminate more than 4,000 positions this year, which accounts for about 6 percent of its total workforce, The Associated Press reported. The New York-based charge card company said the cuts are part of a companywide New York: American Express on Wednesday said that it plans to cut more than 4,000 jobs this year, about 6 percent of its total workforce. The New York-based charge card company said the cuts are part of a companywide efficiency drive. The announcement came More than 4,000 employees of American Express Co. will lose their jobs over the next year as part of a restructuring program at the credit card company, a spokeswoman said. The planned redundancies contributed to a restructuring charge taken by the world's New York — American Express said Wednesday it plans to cut more than 4,000 jobs this year, about 6% of its total workforce. The New York-based charge card company said the cuts are part of a companywide efficiency drive. The announcement came as it .
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