Amex to Record Charge, Cut Jobs
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American Express (AXP.N: Quote, Profile, Research) on Friday said it expects to record a fourth-quarter pretax charge of up to $120 million and cut 2,000 jobs related primarily to a restructuring of its business travel unit and the
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Delta Air Lines said it would eliminate up to 7,000 jobs and US Airways said it would start charging passengers to make reservations by telephone or at an airport ticket counter.
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ABN Amro, the biggest Dutch bank, yesterday announced it would take a one-off â¬790m ($1bn) charge as it slashes 2,850 wholesale banking and back-office jobs, confirming a report in yesterday&#39;s FT.
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American Express Co (NYSE: AXP) said this morning that it has filed a law suit in the US District Court in Manhattan against Visa, Mastercard and eight major
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SAN FRANCISCO (CBS.MW) -- Office Depot has announced cost-cutting plans that cut more than 800 jobs and pay down $250 million of debt, with related charges of about $42.
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American Express said on Friday it expects to record a fourth-quarter pre-tax charge of up to &#36;120 million and cut 2,000 jobs related to a restructuring of its business travel unit and the sale of some overseas operations.
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MARSH &amp; MCLENNAN, the insurance broker, is to axe 3,000 jobs to help to prop up its flagging profits, which have been hurt by a $232 million (Â£125 million) charge to cover a potential settlement with Eliot Spitzer, the New York attorney-general.
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Time Warner Inc. plans to take a  pretax charge of about $60 million in the current fourth  quarter for severance costs stemming from job cuts at its  America Online unit, the company said in a securities filing on  Friday.
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Charlotte-based Bank of America Corp. will slash 4,500 positions from its work force, or about 2.5% of its payroll. The company expects to incur charges of $150 million over three quarters, beginning in the third quarter, from severance payments.
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American Express Co. AXP.N said on  Monday quarterly earnings rose 14 percent, matching analysts'  expectations, on record cardholder spending, increased travel  sales and lower loan losses.
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Rental-car operator Hertz Global  Holding Inc.  said on Wednesday it plans to cut 1,350  jobs resulting in annual savings of about $125 million as it  seeks to improve competitiveness.
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New York-based credit card and travel services company American Express Co  is expected to sell its private banking business within weeks, said a source familiar with the matter.
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Computer Associates (Quote, Chart) said it would cut 800 employees from its payroll in order to save $70 million per year. The move is part of the Islandia, NY-based management software maker&#39;s plan to streamline operations.
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The San Diego-based maker of data storage products said in a statement that it plans to cut 145 regular and temporary personnel worldwide, and will incur restructuring charges of between $5 million and $7 million.
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American Express (AXP:NYSE - news - research) wants rival MasterCard, Visa and eight big banks to pay damages for years of allegedly uncompetitive practices in the charge card business.
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American Express&#39; restructuring charge includes approximately US$80 million to $90 million in employee severance and approximately $20 million to $30 million in other costs mostly related to the early end of leases.
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AMR Corp. plans to furlough as many as 1,100 employees in Kansas City and St. Louis, according to published reports late Friday. Free!