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(MIKE BLAKE/REUTERS)

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Amex job cuts a sign of the times in slow-growth U.S.

The last time American Express Co. announced large-scale job cuts was in the depths of the steep 2008-09 recession. With the U.S. supposedly in recovery mode, the charge card giant is cutting again, announcing Thursday it would slash 5,400 jobs this year. Is this a sign that the U.S. economy is actually in reverse mode? No, but it’s the kind of announcement we should be hearing more of as corporate America tries to boost profits in a low-growth economy.