« Taco Bell Slashes Hours For Workers To Avoid Obamacare Mandate | Main | Joe Biden Task Force Eyeing 'Universal' Background Checks, Ammo Limits »
January 11, 2013
Barack Obama To Blame as American Express To Cut 5,400 Jobs
American Express To Cut 5,400 Jobs
American Express Co said it would cut about 5,400 jobs, mainly in its travel division, and would take about $600 million in after-tax charges in the fourth quarter, which will halve its net income for the period.
The company said some of the cuts would be offset by new hiring but expects to reduce its workforce 4 to 6 percent by the end of 2013. It currently employs 63,500 people.
Wild Thing's comment.................
If newspapers would put this kind of thing on their front pages each day with all the companies layoffs I have to wonder if maybe a few people might wake the heck up or if they truly could care less how their vote has effected our beloved country.
Posted by Wild Thing at January 11, 2013 01:47 AM
Comments
That doesn't make sense. They are cutting 5,400 jobs but expect to offset some of the cuts by new hires? Why new hires? Why not just reduce the number of jobs your cutting instead of hiring new people?
Posted by: BobF at January 11, 2013 07:51 AM
