American Express Layoffs

Associated Press


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May 18, 2009

NEW YORK - American Express says it's eliminating about 4,000 jobs as part of a plan to slash another $800 million in costs for the remainder of the year. The layoffs represent about 6 percent of the credit card issuer's current global work force. The newest plan follows $1.8 billion in cost cuts including 7,000 layoffs announced in October of last year.

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