The cuts will come primarily in the company's travel business, and account for about 8.5 percent of AmEx's 63,500- person workforce. American Express said it will take a $287 million restructuring charge associated with the layoffs.
As businesses face more complex regulations and heightened scrutiny by prosecutors, companies are turning to investigative firms to help keep watch over their employees. The idea behind the "corporate monitoring" business is to nip misconduct in the bud before law enforcement catches a whiff of it.
Just for the sake of financial fun, we've calculated how much platinum it would actually take to mint a coin with $1 trillion worth of the metal in it. Turns out, it's probably more platinum than mankind has available on the market right now.
Three more fiscal cliff-type deadlines are fast approaching. They involve: 1) raising the debt ceiling 2) imposing automatic spending cuts and 3) funding the federal government to avert a partial shutdown.
President Obama announces his choices for key second-term positions. Vice President Biden meets with gun control advocates and the NRA. And new mortgage rules target risky lending. A panel of journalists joins Diane for analysis of the week's top national news stories.
The drought that damaged crops in the Midwest last summer has brought the water level to historically low levels. Now barge traffic along a vital stretch of the Mississippi is dangerously close to running dry, putting shipping and jobs at risk.
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