American Express (AXP) stock trades down, here is why

Shares of global payments company American Express (NYSE:AXP) fell 3.5% in the afternoon session after the company announced plans to eliminate roughly 5% of its workforce, or about 4,000 employees, alongside its third-quarter 2026 financial results. According to CNBC, the cuts are American Express’s first major reduction in about a decade. Chief Executive Stephen Squeri told analysts the company is taking a $336 million restructuring charge to become more agile, and Chief Financial Officer Chri