American Express will dismiss about 5% of its employees as part of a $336 million restructuring. After its third-quarter results, the company raised the lower bound of its adjusted profit forecast for 2026 from $17.30 to $17.60 per share while keeping the upper bound unchanged at $17.90. The new midpoint of $17.75 exceeds analysts’ consensus by only 12 cents. American Express is also facing a $350 million penalty for missing $13 billion in suspected money laundering activity. Investors sold the stock down 3.7% by noon in New York trading, after a 15% decline year to date, while a nearly $1 billion pretax gain from selling its stake in Global Business Travel helps fund separation agreements related to the layoffs.
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