American Express is cutting about 5% of its global staff, roughly 3,500 jobs. It will take a $336 million shake-up charge as it prepares for wider use of AI, CNBC and the Wall Street Journal reported. The firm had nearly 77,000 workers at the end of 2025, CNBC said. CFO Christophe Le Caillec said the goal is to make the company "leaner, more agile, and also to prepare for AI." He said fewer layers will let processes run on their own, CNBC reported.

CEO Stephen Squeri said the charge is meant to improve speed and speed up new work, CNBC reported. He said Amex is "not going to let assistants run rogue through our system." He said the firm must protect customers and merchants. The Wall Street Journal said the cuts aim to cap rising costs. Squeri framed them as a way to free cash for key bets.

Amex beat Wall Street profit forecasts. Adjusted earnings were $4.68 a share versus a $4.48 estimate, CNBC reported. Revenue rose 9% to $20.06 billion, a touch below forecasts, CNBC said. The company raised full-year earnings guidance to $18.30 to $18.60 a share, CNBC reported. Shares fell about 4% in afternoon trading, CNBC said.

Barclays this week also laid out plans to cut about 5% of staff in a tech-driven move, CNBC noted. Banks are replacing rote roles with automation even as spending stays strong, CNBC reported. The Amex plan fits a broader week of layoff news at large consumer brands, the Wall Street Journal said.

What we know: Amex will cut about 3,500 jobs with a $336 million charge tied to an AI push, and quarterly revenue rose 9%.
What we don't: Which roles will go, and when the cuts will finish.