--- title: American Express cuts 5% of staff and won’t let AI... description: American Express is cutting about 5% of its global workforce and taking a $336M restructuring charge. The CFO said the restructuring was to prepare for AI. CFO... canonical: https://daily.dev/posts/american-express-cuts-5-of-staff-and-won-t-let-ai-agents-run-rogue--2hkijye27 twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: American Express cuts 5% of staff and won’t let AI agents ‘run rogue’ | daily.dev og:description: American Express is cutting about 5% of its global workforce and taking a $336M restructuring charge. The CFO said the restructuring was to prepare for AI. CFO... og:url: https://daily.dev/posts/american-express-cuts-5-of-staff-and-won-t-let-ai-agents-run-rogue--2hkijye27 og:image: https://api.daily.dev/og/posts/2hkiJYe27.png og:image:alt: American Express cuts 5% of staff and won’t let AI agents ‘run rogue’ og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # American Express cuts 5% of staff and won’t let AI agents ‘run rogue’ **[The Next Web](https://daily.dev/sources/tnw)** · 3 min read · 0 upvotes · 0 comments ## Summary American Express is cutting about 5% of its global workforce and taking a $336M restructuring charge. The CFO said the restructuring was to prepare for AI. CFO Christophe Le Caillec said the company is reducing layers and increasing spans of control, saying 'You don't want to automate processes that are not optimally structured'. Squeri said Amex will only allow agents to access its systems through approved API or MCP channels. Revenue rose 9% to a record $20.1bn and net income rose 28% to $3.7bn, including a $982M pre-tax gain from selling its Global Business Travel Group stake. Shares fell roughly 4% after the announcement. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Questions this post answers ### How is American Express restricting AI agent access to its systems? American Express only allows AI agents to access its systems through approved API or MCP (Model Context Protocol) channels, according to CEO Stephen Squeri. He said the company will not let assistants 'run rogue' through its systems, citing the need to protect customers and merchants. Amex also published an Intent Intelligence framework on October 13 to confirm purchase intent before an agent completes a transaction. _Teams building agent integrations can follow how banks like Amex gate access via API and MCP on daily.dev._ ### Why is American Express cutting jobs in 2026? American Express is cutting about 5% of its global workforce, taking a $336 million restructuring charge, to prepare for AI and become a 'leaner, more agile' organization. CFO Christophe Le Caillec said the goal is to reduce layers and increase spans of control before automating processes, rather than automating poorly structured workflows. The cuts followed Barclays cutting 5,000 jobs, also about 5% of its staff. _Anyone tracking AI's effect on tech and finance hiring can follow these restructuring moves on daily.dev._ ## Similar posts on daily.dev - [Wall Street’s six largest banks cut 15,000 jobs and posted $47 billion in profits. The CEOs stopped pretending.](https://daily.dev/posts/wall-street-s-six-largest-banks-cut-15-000-jobs-and-posted-47-billion-in-profits-the-ceos-stopped--izomcxrhi) · The Next Web · 4 upvotes · 0 comments - [European banks plan to cut 200,000 jobs as AI takes hold](https://daily.dev/posts/european-banks-plan-to-cut-200-000-jobs-as-ai-takes-hold-hnmfhahn2) · TechCrunch · 0 upvotes · 0 comments - [GitLab to cut 14% of staff and exit 22 countries in ‘agentic era’ restructuring](https://daily.dev/posts/gitlab-to-cut-14-of-staff-and-exit-22-countries-in-agentic-era-restructuring-lzmdeb7lt) · The Next Web · 13 upvotes · 4 comments --- Tags: [#ai-agents](https://daily.dev/tags/ai-agents), [#mcp](https://daily.dev/tags/mcp), [#fintech](https://daily.dev/tags/fintech) [View this post on daily.dev](https://daily.dev/posts/american-express-cuts-5-of-staff-and-won-t-let-ai-agents-run-rogue--2hkijye27) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"American Express cuts 5% of staff and won’t let AI agents ‘run rogue’","url":"https://daily.dev/posts/american-express-cuts-5-of-staff-and-won-t-let-ai-agents-run-rogue--2hkijye27","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/american-express-cuts-5-of-staff-and-won-t-let-ai-agents-run-rogue--2hkijye27"},"datePublished":"2026-10-26T13:11:36.986Z","dateModified":"2026-10-26T13:45:19.385Z","description":"American Express is cutting about 5% of its global workforce and taking a $336M restructuring charge. 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He said the company will not let assistants 'run rogue' through its systems, citing the need to protect customers and merchants. Amex also published an Intent Intelligence framework on October 13 to confirm purchase intent before an agent completes a transaction. Teams building agent integrations can follow how banks like Amex gate access via API and MCP on daily.dev."}},{"@type":"Question","name":"Why is American Express cutting jobs in 2026?","acceptedAnswer":{"@type":"Answer","text":"American Express is cutting about 5% of its global workforce, taking a $336 million restructuring charge, to prepare for AI and become a 'leaner, more agile' organization. CFO Christophe Le Caillec said the goal is to reduce layers and increase spans of control before automating processes, rather than automating poorly structured workflows. The cuts followed Barclays cutting 5,000 jobs, also about 5% of its staff. Anyone tracking AI's effect on tech and finance hiring can follow these restructuring moves on daily.dev."}}]} ```