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via finance.yahoo.comBusiness & Companies

American Express to cut 5% of its global workforce after third-quarter results

FROM THE WIRE · FINANCE.YAHOO.COM

American Express (AXP) came out with its third quarter earnings results, also announcing a 5% reduction in its global workforce. The 8:30 Hosts Jake Conley, Julie Hyman, and Pras Subramanian react to AmEx's mass layoff announcement alongside the company's insights into consumer…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishA miss on billed business and the job cuts weigh on the stock, although full-year guidance was raised.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01American Express announced a 5% reduction in its global workforce.
  2. 02Billed business missed analyst estimates.
  3. 03The company did raise its full-year forecast.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
American Express CompanyAXPStock314.78 USD+0.45%today -3.20%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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