U.S. credit card giant American Express on the 18th the company announced that 4000 will be further reductions in jobs, accounting for the total number of its global workforce by 6%.
American Express said he hopes the layoffs in 2009 and then save the remainder of the time cost of 800 million U.S. dollars. In October last year, American Express had announced layoffs of 7,000 people in 2009 with a view to saving the cost of 1.8 billion U.S. dollars.
American Express also said that the layoffs will enable the companies included in the second quarter of this year, from 180,000,000 to 250,000,000 U.S. dollars of restructuring costs. In addition to layoffs, the company also plans to reduce investment spending and travel and other operating costs.
American Express Chairman and CEO of Solutia, said Kenneth Tse, although in some areas of the credit card industry has suffered serious losses remain profitable, but the future Yuntong cautious economic outlook, it was decided to implement further restructuring to reduce operating costs.
May. 24, 2009
