American Express 4000 employees Crop

American Express 4000 employees Crop


Credit card giant United States American Express (Amex) announced Monday that the company will reduce 4,000 workers as part of a global restructuring of the operational cost 800 million dollars.

Reduction of workers will be reduced approximately six percent of the workforce that companies in the world at this time, and the company is also planning a reduction in the scale of investment and operational costs.

Steps are done after the Amex months ago to report 56 percent decline in quarterly revenues compared to a year ago into 443 million dollars or 31 cents per share, in the middle of the rising credit card debt elimination.

American Express said that the reduction in workforce that will save the company 175 million dollars from their budgets, while reducing investment in the development of the market and more business will save 500 million dollars.

The rest of the savings will come from a reduction of 125 million dollars in operational costs, said chief executive Kenneth Chenualt such as AFP reported.

American Express is a leading credit card company that was founded in 1850 and currently operates in 130 countries around the world.