AmEx makes cutbacks to cope with economic downturn

05/20/2009 |

American Express is striving to save about $800 million during the rest of 2009 by reducing its global work force. "In this prolonged economic downturn, American Express Business Travel continues to feel pressures and challenges with respect to operating against significantly lower volumes, smaller margins and the need to remove additional costs and expenses," a company representative said. "Our decision to reduce our staffing levels was made in proportion to the volume of work we are managing and in line with reengineering activities American Express Company has announced."

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