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JAN 17, 2013 - Investors Business Daily

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American Express Cuts 5,400 Jobs, Q4 Results Beat

American Express (AXP) announced it would cut 5,400 jobs late Thursday after it reported preliminary Q4 results above analyst expectations. The layoffs are part of the credit card company's plan to reduce its global workforce by 4% to 6% by the end of 2013. Currently 63,500 people work for American Express. The largest cuts will come from its travel businesses. "Against the backdrop of an uneven economic recovery, these restructuring initiatives

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