AmEx to cut 4,000 jobs in global restructuringUS credit card giant American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. announced Monday that it was to shed some 4,000 jobs as part of an 800-million-dollar restructuring of its global operations Global Operations is a first-person shooter computer game developed by Barking Dog Studios and published by both Crave Entertainment and Electronic Arts. It was released in March of 2002, following its public multiplayer beta version which contained only the Quebec map. . The job cuts would lead to the elimination of about six percent of the company's current worldwide workforce, and the company also planned to scale back investments and slash operating costs operating costs npl → gastos mpl operacionales . The move comes after AmEx last month reported a 56 percent drop in quarterly earnings from a year ago to 443 million dollars, or 31 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , amid rising write-offs of credit card debt Credit card debt is an example of unsecured consumer debt, accessed through ISO 7810 plastic credit cards. Debt results when a client of a credit card company purchases an item or service through the card system. . American Express said the job cuts, which will go into effect this year, would allow them to shave shave (shav) 1. to cut at or parallel to the surface of the skin. 2. to remove the beard or other body hair by such a process. 3. to cut thin slices from or to cut into thin slices. 175 million dollars off their budget, while reducing investments on marketing and business development would save another 500 million dollars. The rest of the savings would come from cutting 125 million dollars from operational costs, chairman and chief executive Kenneth Chenualt said. "While we have remained solidly profitable at a time when some parts of the card industry were incurring substantial losses, we continue to be very cautious about the economic outlook," Chenualt said in a statement. "We believe these efforts will put us in a better position to remain profitable and free up some additional resources that will be reinvested in the business to make sure we can take competitive advantage of opportunities as the economy begins to rebound." American Express is a leading credit company which was founded in 1850 and now operates in 130 countries around the world. 
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