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 £521.6 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
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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