American Express plans global layoffs and advances AI operational changes

AI-assisted source synthesis · not an independent investigation.

On October 23, 2026, Payments Dive reported that American Express plans to cut about 3,500 employees globally, approximately 4.5% of its roughly 78,000 employees, as part of a restructuring to streamline operations, boost productivity, and accelerate decision-making. The company said that amid intensifying competition, it will bring more AI agents onto its platform in the future; the report also listed third-quarter revenue of $20 billion and net income of $3.71 billion. On October 24, PYMNTS reported that the company plans to cut about 5% of jobs globally and requires external AI agents to access its systems only through approved API or MCP channels; spending by U.S. Gen Z cardholders grew 35% in the third quarter. The reported layoff percentages are inconsistent: an earlier report said about 3,500 people, or 4.5%, while a later report said about 5%; current reports have not disclosed specific regions, roles, timing, or employee transition arrangements.

AI-written from reports · updated 2 hours ago