Tag Archives: new york times

American Express to Cut 7,000 Jobs. Experience The Freedom Of Joblessness.

As part of a reengineering plan, American Express plans to cut some 7,000 jobs, or about 10% of its work force, the company said Thursday morning. The company will cut staffing levels, reduce compensation, lower operating costs, and scale back its investment spending. "We’ve been engaged for the past few months in an intensive, companywide review of priorities and staffing levels," said Kenneth

Consumers Feel the Next Crisis: It’s Credit Cards

Indeed it is. If you’re not in top shape for the credit card shakeout that’s already taking place, there isn’t much you’ll be able to do about it. It’s probably already too late. After years of flooding the market with credit cards (and generous limits), banks are finally starting to take it back. Eric Dash, a New York Times reporter, does an excellent job of distilling the situation. From