Skift Take
American Express has been criticized for more than a decade for its sluggish response to the online shift. Today's restructuring announcement only emphasizes the point.
American Express is "reengineering the business model" in its Global Business Travel unit to reflect the shift to online, and the "largest reductions" in 8,500 layoffs that will occur companywide will take places in its travel businesses.
Officials released some fourth quarter results today, a week ahead of a scheduled January 17 conference call, to discuss $895 million in restructuring costs.
The restructuring will impact the Global Business Travel business. Among the elements will be, the company stated:
Reengineering the business mode
