American Express will cut up to 6,500 jobs, most in its travel business, and take pre-tax restructuring charges of as much as $280 million largely because of the drop in travel after the September 11th attacks.
American Express said today the job cuts are in addition to the 7,700 positions announced earlier this year. The total number of jobs eliminated - 13,200 to 14,200 - represents about 15 per cent of the work force as of the beginning of 2001.