InfoAnda - American Express to slash 10 pct of worldwide workforce

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

TiVo quarterly loss narrows; outlook light | 3 March 2009
US military deaths in Iraq war at 4,331 | 7 August 2009
Five years on, survivors remember Beslan slaughter | 2 September 2009

U.S. senators threaten currency bill ahead of Hu visit | 18 January 2011

">Forum Views () ">Forum Replies ()

Read more with google mobile : American Express to slash 10 pct of worldwide workforce

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Top Stories Full Coverage Most Popular Photos Search Search: American Express to slash 10 pct of worldwide workforce AFP - Friday, October 31 NEW YORK (AFP) - - American Express said Thursday it was slashing 10 percent of its worldwide workforce and cutting spending to cope with worsening economic conditions. The new initiatives are expected to produce cost savings of approximately 1.8 billion dollars in 2009 as the company reduces staffing and pay, cuts operating costs and trims investment spending, the credit card and finance giant said in a statement. The company will take a restructuring charge of 370-440 million pre-tax dollars in the fourth quarter, mainly due to the elimination of some 7,000 jobs or about 10 percent of the workforce. Most of the job cuts will occur in management and other areas that do not interact directly with customers. American Express said it was suspending management-level salary increases for 2009 and launching a hiring freeze. It will cut expenses, including spending on consulting and other professional services, travel and entertainment, and scale back investment spending on technology, marketing and business development. The company signalled it would raise prices to generate "significant" additional revenue next year. "The reengineering program we announced today will help us to manage through one of the most challenging economic environments we've seen in many decades," Kenneth Chenault, American Express chairman and chief executive, said in a statement. "It will also put us in position to ramp-up investment spending as economic conditions improve so that we can take advantage of the substantial opportunities that will be available to us over the medium to long term." Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Most Popular – Top Stories Viewed When men see red, they see hot: study Asian stocks soar on US Fed rate cut McCain in defiance as Obama boosted by economic data World's fattest man weds friend's widow Desperate pleas end in despair as starlet's nephew found dead View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

Other News on Thursday, 30 October 2008
Taliban suicide attack kills at least five in Afghan capital
Gaza rocket strikes Israel; cargo crossings closed
Fears of more deaths as Pakistan quake victims wait for aid
Iraq wants all US troops gone by end of 2011
Iraq holding thousands in secret prisons: lawmaker
Archaeologist says he found oldest Hebrew writing
Israel demolishes dozens of West Bank shacks
Taliban attack in Afghan govt building kills five
Israel sets election date of Feb. 10
Five killed in Afghan capital suicide attack: police
US dress-up fest Halloween hit by political correctness
Syrian crowd protests US raid amid heavy security
McCain shows defiance, five days from election
ExxonMobil profit surges to record 14.8 billion dollars
US officials' hopes for Iraq security deal fade
American Express to slash 10 pct of worldwide workforce
McCain shows defiance, five days from election
US embassy shut as Syrians protest over deadly raid
US economy shrinks 0.3 percent
Google's version of Wikipedia goes multi-lingual
Netflix-TiVo alliance to stream online movies to televisions
AOL.com rolls out homepage redesign
Beatles getting new life in custom videogame
US economy shrinks, Japan unveils stimulus
Intel invests 11.5 mln to help develop Taiwan 4G network
Phillies reign over Tampa Bay in Baseball World Series
Forbes rich list: Financial turmoil hits China's super-wealthy
Shivering teacher tells class about climate change
US economy shrinks, Japan unveils stimulus
Pakistan has no alternative to taking IMF money-adviser
Pakistan's fiscal deficit 1 pct of GDP in Q1
India's ONGC Q2 profit slides six pct, hit by fuel subsidies
India inflation falls below 11 pct, more easing seen
Sri Lanka to allow rupee 'greater flexibility' to boost exports
Japan's Mazda, Mitsubishi Motors cut forecasts on crisis
Nigeria cuts oil exports
Nintendo bucks industry gloom with rising profits
LUKOIL slashes 2009-2011 capex plan on oil price
Nintendo cuts annual profit forecast on strong yen
Director Mendes tapped to film 'Preacher' comics
Fresh from Iraq success, Petraeus takes on Afghanistan, Iran
McCain shows defiance, five days from election
In the hands of Afghanistan's Taliban, life is cheap
Computer makers recall 100,000 Sony batteries
Pakistan soldiers bring aid to quake survivors
Afghan famine greater risk than Taliban: British think-tank
Ecuador alleges 'clear' signs of CIA infiltration
US asks China to review Tibet policies
MySpace poll shows Internet generation favors Barack Obama
EA posts hefty loss, to cut 540 jobs
Hong Kong watchdog may sue banks over Lehman mini-bond sales
Rebels poised as EU mulls sending troops to DR Congo
Antarctica feeling the heat too, says study
BBC chief quits, star presenter suspended over offensive prank
Antarctica feeling the heat too, says study
Bank of Japan cuts key interest rate
S.Korean won posts biggest weekly gain in 11 yrs
Seoul shares up 2.6 pct, post biggest weekly gain
Philippine stock index soars 4.6 pct
Japan's Mizuho lowers forecasts on stock declines
Japan inflation slows, bolsters rate cut hopes
Oil prices extend losses in Asian trade
Toyota says it will reopen US plants to ship to Mideast
NZ dollar nudges lower as risk returns, bonds dip
Minister: Japan ready with money for IMF bailout
Seoul shares extend gains, up 4 percent
Nazi leader's grandniece, Jewish woman find peace
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01