11 Jan 2013

Job cuts at Amex

11:36 am on 11 January 2013

American Express is to cut 5400 jobs worldwide from its total workforce of 63,500 by the end of 2013.

The credit card company said majority of the job losses would be in its travel business, which is changing drastically as more customers make payments online or via mobile.

The BBC reports fourth quarter, spending by card members was 8% higher than a year ago.

Total revenues rose 5% on the year to $US8.1 billion.