American Express Slashes Jobs: 5400 Lay Offs

American Express Company (NYSE:AXP) has announced that it will lay off 5,400 of its staff. and has announced restructuring costs of $400 million for the fourth quarter of 2012. The news was delivered alongside the company’s earnings results for the last three months of 2012.

Earnings per share for the fourth quarter was $0.56 per share according to the American Express Company (NYSE:AXP) release. The firm had revenue of $8.1 billion, up 5 percent from the same period a year ago. Excluding the restructuring costs, and other charges, the company earned $1.09 in the quarter, that’s 8% higher than last year’s...