American Express to cut 5% of global headcount, raises full-year earnings guidance

American Express Co. is planning to reduce its global workforce by 5%, affecting approximately 3,500 jobs, as CEO Steve Squeri aims to manage rising costs and enhance efficiency. The announcement follows the company's third-quarter earnings, which surpassed estimates, and a raised full-year earnings per share guidance to $18.30-$18.60 from a previous forecast of $17.30-$17.90.