BUSINESS

American Express is cutting 5% of its workforce to 'prepare for AI'

CNBC BusinessFriday, October 23, 2026 at 6:57 PM

RedScroll Brief

Amex, which reported third-quarter results earlier Friday, is taking a $336 million restructuring charge in the quarter, CEO Stephen Squeri said Friday.

RedScroll Signal

Impact: High
Category: Business
Regions: United States
Market relevance: High
Why it matters: Corporate and market moves reprice risk and reveal where power and cash are concentrating. Amex, which reported third-quarter results earlier Friday, is taking a $336 million restructuring charge in the quarter, CEO Stephen Squeri said Friday. Investors will watch earnings, rates, and competitive positioning connected to American Express and Business.

Read original source → CNBC BUSINESS Edition 2026-10-23

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RedScroll Briefing

Extractive editorial brief — not a reprint of the original

What happened

Amex, which reported third-quarter results earlier Friday, is taking a $336 million restructuring charge in the quarter, CEO Stephen Squeri said Friday.

Why it matters

Corporate and market moves reprice risk and reveal where power and cash are concentrating.

Background

CNBC Business reported on this under business. RedScroll surfaces the signal with an extractive brief — not a reprint of the original article. Read the source for full reporting.

Timeline

Fri, Oct 23, 2026, 6:57 PM UTC
CNBC Business published: American Express is cutting 5% of its workforce to 'prepare for AI'
Now
Story is in today’s RedScroll edition. Follow the original source for updates.

Economic impact

Investors will watch earnings, rates, and competitive positioning connected to American Express and Business.

More on

Business

Source

CNBC Business

Original reporting by CNBC Business. RedScroll provides an extractive briefing only.