What is the likelihood of American Express layoffs in New York in 2016? Please let me know if you have any information.
6 replies (most recent on top)
New round of cuts in March 2016
Yes yes yes they will be reducing. My entire group should be let go. It's a group that does nothing to impact the bottom line, although we always find a way to make ourselves look like we contribute significantly There are probably hundreds of other groups like that -- folks at Amex are great at showing impact when, in fact, if you took them away, there would be no impact. It's because we only have year to year goals…so you are limited to about 8 months (between goals being aligned in late Q1 and then October assessments) to execute and measure impact. There are numerous opportunities to really make a difference, but because so many senior leaders you'd have to align -- they are not quick one year hits -- those opportunities never materialize. I worked on three different new products or ideas that over promised and under delivered and were eventually terminated. Incredible waste of people and millions in investments. Amex really needs to reassess what's core and get rid of all the waste.
@1ffbb - it's actually VERY LIKELY.... One billion dollar in trimming expenses for AMEX - ok, how are they going to do that? Cheaper paper cups? Hell no, they will cut to the bone, more US jobs to be exported overseas, that what they will do. Yes, massive layoffs in US, starting in call centers and ending in New York - nobody will be safe as this #massextinction rolls over our workers
Yes more job cuts this year..not sure how many but the company will trim $1 billion dollars in expenses, including eliminating jobs.
Not for now, it's looking good but Financial services is unpredictable