American Express to cut jobs

Published On: Jan 11 2013 09:07:16 AM EST

49. American Express

American Express announced Thursday that it's cutting more than 5,000 jobs.
The company says the reduction in headcount will come from its travel businesses.

These divisions, they say, are changing because of an industry shift to the Internet.

They believe the company will still be able to serve their growing customer base with less staff.

Overall the company says they expect to reduce their current workforce by 4 to 6 percent by the end of the year.

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