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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 (AP) — American Express said Wednesday 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 American Express, which reported fourth-quarter results, was not immediately available for comment when contacted by Reuters. CNBC reported that the 4,000 planned job cuts was a "gross figure" and that the company would hire selectively. American Express 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 American Express (AXP) has announced plans to layoff more than 4,00 employees. The American Express layoffs will have the company cutting roughly 6% of its 63,000 workforce. It’s trying to cut costs with the layoffs to meet growth target expectations of 8%. American Express Co. disappointed investors Wednesday, reporting a rise in fourth-quarter expenses and provisions for loans that could sour. As part of a larger restructuring plan, American Express plans to cut 4,000 jobs across the company over the course .
American Express Co. said Wednesday it planned to cut its workforce by 4,000 jobs to reduce costs. Marina Hoffman Norville, a spokeswoman for the US banking group and a leading issuer of credit cards, said it was taking a $313 million charge in its fourth .
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