American Express is set to cut 5% of its workforce, equating to approximately 3,500 to 4,000 jobs, as part of a strategy to manage expenses and prepare for an increasing reliance on artificial intelligence. Despite a rise in profits and a positive outlook for 2026, the company is implementing these layoffs to enhance agility and address cost pressures. The decision comes as part of a broader trend among companies responding to the AI boom and economic challenges.