Thursday, October 30, 2008

American Express Severs 7,000 Employees

"American Express to cut 7,000 jobs, save $1.8 billion

NEW YORK — American Express said on Thursday that it would cut 7,000 jobs, lower compensations, reduce operating costs and scale back investments to save $1.8 billion in 2009 as it struggles with the worst financial crisis in decades. --more--"