American Express Prepares to Cut Jobs Amid AI-Driven Changes

American Express, the global financial services company, is planning to reduce its workforce as part of a broader strategy to control costs and streamline operations. The company has indicated that it may cut around 5% of its global workforce, which comprises approximately 78,000 employees. This could affect nearly 3,500 jobs across its offices worldwide. The proposed reduction comes at a time when financial services companies are reassessing their workforce requirements and operational structures amid changing business conditions and increasing pressure to improve efficiency.

The company’s decision is also linked to the rapid transformation of the payments industry through artificial intelligence (AI). As AI technologies reshape payment services and business operations, American Express is seeking to adapt its structure to changing industry demands. By reducing expenses and streamlining its operations, the company aims to improve efficiency and respond to technological changes. The planned job cuts reflect the growing impact of automation and AI on the global financial services sector, where companies are increasingly evaluating how technology can support their operations.