# American Express Plans to Eliminate About 5% of Global Positions By John Kim Canonical URL: https://www.tokenpost.com/news/business/39603 Published: 2026-10-24T03:46:40.000Z Updated: 2026-10-24T03:46:40.000Z Section: Business > The company recorded a $336 million pretax charge for the quarter ended Sept. 30, with part of a $982 million gain from a stake sale used to fund the restructuring. American Express plans to eliminate about 5% of its global positions in a restructuring, Chairman and CEO Stephen J. Squeri said, linking the reductions to efforts to streamline operations and accelerate innovation. Squeri disclosed the plan during the company’s third-quarter earnings call at 8:30 a.m. ET Friday, Oct. 23. He said he had asked senior leaders earlier this year to find ways to streamline teams and reduce organizational layers. “We needed to become a more agile and efficient organization,” Squeri said. American Express recorded a $336 million pretax restructuring charge, or $253 million after tax, for the quarter ended Sept. 30. Part of a $982 million pretax gain from selling its stake in Global Business Travel Group went toward the charge. Revenue net of interest expense rose 9% year over year to $20.062 billion for the quarter, while net income increased 28% to $3.712 billion. American Express also [raised its 2026 earnings outlook after reporting third-quarter results](). Squeri gave no exact job count or timeline for the reductions. The call did not identify affected roles or locations. ## Links in this article - [raised its 2026 earnings outlook after reporting third-quarter results](https://www.tokenpost.com/news/business/39497)