American Express is cutting 5% of its workforce to ‘prepare for AI’
Summary
American Express is reducing its total staff by five percent as part of a restructuring plan. The financial services firm reported its third-quarter results and announced a multi-million dollar restructuring charge to prepare operations for artificial intelligence.
Amex, which reported third-quarter results earlier Friday, is taking a $336 million restructuring charge in the quarter, CEO Stephen Squeri said Friday.
Source: Read the full story at US Top News and Analysis
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