American Express to cut spending by $3-billion to survive virus-hit economy [Toronto Globe and Mail (Ontario, Canada)]
American Express Company (AXP)
Last american express company earnings: 4/24 07:00 am
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Source: Toronto Globe and Mail
American Express to cut spending by $3-billion to survive virus-hit economy American Express released quarterly results Friday. Lucy Nicholson/Reuters American Express released quarterly results Friday. Credit card issuer American Express Co said on Friday it would cut spending by nearly $3 billion in 2020 after its quarterly profit sank 76% as it set aside more money to brace itself against a wave of potential delinquencies. The coronavirus pandemic has hammered the global economy, leaving people with an uncertain financial future. Several large U.S. banks have already stowed away billions of dollars to cover future losses as coronavirus-led layoffs and pay cuts would make it difficult for consumers to make loan payments. “In light of the current environment, we are aggressively reducing costs across the enterprise,” said AmEx chief executive officer Stephen Squeri, adding that the deterioration in the economy accelerated in April and has dramatically impacted customer spending vol
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AXP
Earnings
- 10/20/25 - Beat
AXP
Sec Filings
- 11/17/25 - Form 8-K
- 11/4/25 - Form 4
- 11/4/25 - Form 4
- AXP's page on the SEC website