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