American Express is cutting 5% of its global workforce to 'prepare for AI,' CFO says

American Express is laying off thousands of employees as the credit card company anticipates artificial intelligence taking  on a larger role in its internal processes. 

Amex CEO Stephen Squeri told analysts Friday on the company's third-quarter earnings call that it would be eliminating 5% of its global workforce, CNBC reported. 

The company had nearly 77,000 employees at the end of 2025. 

Chief Financial Officer Christophe Le Caillec told CNBC that the goal of the restructuring was to make Amex "leaner, more agile, and also to prepare for AI.”

Automating processes requires them to be "optimally structured," Le Caillec said. 

The cuts at Amex are part of a broader trend in the financial services sector, and many firms are looking to replace repetitive roles with AI automation.