American Express layoffs, on the record
Every job cut, severance charge and restructuring American Express reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 74,600 to approximately 76,800.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 74,600 | As of December 31, 2023 |
| 10-K for 2024 | approximately 75,100 | December 31, 2024 |
| 10-K for 2025 | approximately 76,800 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryThe company stated that it periodically initiates restructuring programs, typically incurring severance and other exit costs, and reported restructuring expense for 2023.
Word for word“Restructuring expense, which primarily relates to new severance charges, net of revisions to existing reserves, was $ 179 million, $ 142 million and $( 10 ) million for the years ended December 31, 2023, 2022 and 2021, respectively, and is included within Salaries and employee benefits within our Consolidated Statements of Income.” 10-K for 2023
Our summaryCompany disclosed restructuring programs it periodically initiates, which typically involve severance and other exit costs, and reported restructuring expense for 2024.
Word for word“Restructuring expense, which primarily relates to new severance charges, net of revisions to existing reserves, was $ 123 million, $ 179 million and $ 142 million for the years ended December 31, 2024, 2023 and 2022, respectively, and is included within Salaries and employee benefits within our Consolidated Statements of Income.” 10-K for 2024
Our summaryCompany reported the cumulative cost of restructuring programs initiated in 2024 or prior years that were in progress during 2024.
Word for word“The cumulative cost relating to restructuring programs initiated in 2024 or in prior years that were in progress during 2024 was $ 400 million.” 10-K for 2024
Our summaryThe company reported restructuring expense, mostly new severance charges, for 2025, 2024 and 2023, recorded within salaries and employee benefits.
Word for word“Restructuring expense, which primarily relates to new severance charges, net of revisions to existing reserves, was $ 96 million, $ 123 million and $ 179 million for the years ended December 31, 2025, 2024 and 2023, respectively, and is included within Salaries and employee benefits within our Consolidated Statements of Income.” 10-K for 2025
Our summaryThe company reported the total cumulative cost of restructuring programs in progress during 2025, which were started between 2022 and 2025.
Word for word“The cumulative expense for restructuring programs in progress during 2025 was $ 443 million.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|---|
| 2016-12-31 | $758 million | $875 million | $329 million | $192 million |
| 2017-12-31 | $633 million | $722 million | $42 million | $235 million |
| 2018-12-31 | — | $554 million | −$23 million | — |
| 2019-12-31 | — | — | $125 million | — |
| 2020-12-31 | — | — | $125 million | — |
| 2021-12-31 | — | — | −$10 million | — |
| 2022-12-31 | — | — | $142 million | — |
| 2023-12-31 | — | $179 million | $179 million | — |
| 2024-12-31 | — | $123 million | $123 million | — |
| 2025-12-31 | — | $96 million | — | — |
American Express has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from American Express’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-06. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.