American Express Layoffs

pennypinch · #1 05-19-2009, 03:24 AM

More bad news to report! American Express is cutting 4,000 jobs! That is 6% of their global workforce! I guess it is a part of their $800 million restructuring plan.

They just announced the plan yesterday and say that the 4,000 they plan to cut now is on top of the 7,000 they said they were going to cut in an announcement last October. Thats a total of 11,000 jobs cut!

They say their first quarter earnings are down and that these additional cuts are inevitable.

The company has remained profitable throughout the recession but they are being cautious due to the still bleak outlook.

This is about the last thing we need, more people needing jobs with none to be found. Are things ever going to get better?

moneysaver · #2 05-19-2009, 01:20 PM

Really make you wonder if things are going to get better. Very sad news about all the people that are loosing their jobs. I have no idea how it is even going to change. But.... I hope it does soon.

ClassyLady · #3 05-20-2009, 04:04 AM

It will only change when people stand up and say something. We tend to say what we want and complain about it, but never try to do anything about it. More people need to stand up and be heard! That is why we elect officials, they are there because we put them there. We all need to make them listen!!