Amex cuts 5% of workforce citing AI, sparking 'AI as layoff excuse' skepticism
StewartalsopIII · x · 2026-11-03
American Express announced a 5% workforce reduction framed as a strategy to adapt to AI advancements, part of a broader trend in financial services. @seanfromearth argues this is a tell for planned layoffs disguised as AI adoption: if AI were genuinely replacing the work, the cuts would exceed 50% — a 5% trim looks more like a pre-planned layoff wearing an AI label.
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