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• American Express provides credit cards, travelers cheques, charge cards and other financial services. American Express' well-known slogan, "Don't Leave Home Without It", has been part of American pop culture since 1975.

  In May 2009, American Express announced that they will be cutting nearly 6 percent of their workforce, or more than 4,000 jobs. The cuts will save approximately $175 million in 2009 alone. American Express also plans to reduce expenses by lower spending on marketing and business development and by cutting expenses for travel, general overhead, consulting and other services.MarketWatch: AmEx to cut 4,000 more jobs, reduce spending (May 18, 2009)

• Fast Facts

  1. Stock symbol: AXP (NYSE)
  2. Also known as: AmEx
  3. Annual revenue (2007): $31.557 billion
  4. Founders: Henry Wells, William Fargo, John Butterfield
  5. Year established: 1850
  6. Industry: Finance
  7. Phone: (212) 640-2000
  8. Toll free phone: (800) 528-4800
  9. HQ: New York, NY
  10. President: Al Kelly Jr.
  11. Chairman/CEO: Ken Chenault
  12. Staff (2007): 67,700
  13. American Express announced layoffs of 7,000 on October 30, 2008MarketWatch: American Express Announces Reengineering Plan to Generate.... (October 30, 2008)
  14. Announced layoffs of 4,000 workers, or 6% of their workforce, in May 2009MarketWatch: AmEx to cut 4,000 more jobs, reduce spending (May 18, 2009)

• Key Dates

  1. 1850: Founded as an express delivery company
  2. 1882: Begin issuing money orders
  3. 1891: Creates travelers cheques
  4. 1895: First European branch
  5. 1914: Becomes delivery service to British POWs in Germany
  6. 1950: Over 170 branches worldwide employing 5,500 workers
  7. 1958: First American Express charge card
  8. 1966: American Express Gold Card
  9. 1986: Earnings break $1 billion
  10. 2006: Ranked 34th most desirable company to work for by CNN
  11. 2008: Ranked the 75th in Fortune 500

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