American Express is planning to cut more than 4,000 jobs across the company this year, a company spokeswoman told The Associated Press.
The job cuts would represent about 6 percent of American Express' total headcount, based on the company's latest annual report. An American Express spokeswoman said Wednesday the cuts will span U.S. and international operations.
Continue Reading Below
The company will take a $313 million pre-tax charge in the fourth quarter, partly as a result of the cuts. In a conference call with investors, American Express Chief Financial Officer Jeffrey Campbell said some of the job cuts will be offset by hiring in other parts of the company.
American Express shares fell 2.4 percent to $85.50 in after-market trading.