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American Express Co. said it would eliminate 4,000 jobs later this year, but the company’s cost cutting isn’t moving fast enough for some investors. The New York credit-card firm is struggling to meet revenue targets in a competitive environment, and 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 expects to cut 4,000 jobs in the coming months, according to CNBC, citing a company representative. The reductions would represent around 7% of the credit card firm’s workforce of 63,000. American Express shared the news as it reported The announcement to do business in Cuba comes just days after American Express announced that it will cut more than 4,000 jobs from its U.S. and international operations. “The actions we are taking will impact over 4,000 people at a cost of $313 million 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 .
NEW YORK (AP) -- American Express is planning to cut more than 4,000 jobs across the company this year, a company spokeswoman told The Associated Press. The job cuts would represent about 6 percent of American Express' total headcount, based on the company 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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