20 May 2009

Around 4,000 jobs to go at Amex

American Express is cutting around 4,000 jobs as part of a worldwide cost cutting drive.

A spokeswoman would not confirm how many jobs in the UK will be affected.

The company has already announced 7,000 job cuts last October in a bid to save ã521.6 million this year.

It has also frozen recruitment and management salary increases, and is cutting expenses for "consulting and other professional services, travel, and general overhead".

Amex reported a 58% drop in income for the first quarter of 2009, falling from $1 billion to $443 million.

Its commercial division, which includes its business travel and corporate card business, saw income drop by 43% from $151 million to $86 million.


By Bev Fearis

• PRINT
• SEND TO A FRIEND
• SHARE

Post your comment

Your Comments

, be the first to post a comment.
Your email:

Your comment title:


Your comment:

Email other comments made to this story

5 characters