(NEW YORK) — American Express on Thursday announced it’s cutting thousands of jobs this year, mostly in its travel business.
The move comes as more American Express customers opt to use travel sites like Expedia.com and Orbitz.com to book their vacations.
American Express plans to cut approximately 5,400 jobs, which amounts to about 8.5 percent of its workforce.
Copyright 2013 ABC News Radio
Seth Fiegerman, CNN