American Express to cut 5,400 jobs


American Express Co. said Thursday that it will slash about 5,400 jobs, mainly in its travel business, as more of its customers shift to online portals for booking travel plans and other needs.

The job cuts will be partly offset by jobs the company expects to add this year. All told, American Express anticipates that staffing levels will end up between 4 and 6 percent lower this year than in 2012. The company currently has 63,500 employees.

Shares slipped 29 cents to $60.50 in after-hours trading. They ended regular trading up 53 cents at $60.79.

— Staff and wire reports