4 major companies have now announced about 10,500 job cuts in just 10 days$American Express(AXP.US) is cutting 5% of its…
4 major companies have now announced about 10,500 job cuts in just 10 days
$American Express(AXP.US) is cutting 5% of its global workforce, about 3,500 jobs, and took a $336M restructuring charge, CEO Stephen Squeri said Friday$Barclays(BCS.US) Barclays is cutting about 5,000 jobs, or 5% of staff, with 60% in support functions including fewer developers as AI makes staff more productive$eBay(EBAY.US) confirmed it is cutting about 9% of its workforce, roughly 1,000 jobs, its second round of layoffs this year$Netflix(NFLX.US) is laying off about 6% of staff, roughly 1,000 jobs, its biggest cuts since 2022What stands out is that none of these companies are in trouble. $American Express(AXP.US) just raised its 2026 profit guide, Barclays grew pretax profit 12% and $eBay(EBAY.US) says Q3 will beat its own forecast. This is cost cutting from a position of strength, and AI is increasingly the reason given. That's a very different signal than the layoffs of a typical slowdownSource: StockMarket.News
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