American Express (AXP) Valuation Gap Presents an Opportunity - Bernstein
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February 17, 2016 2:45 PM EST
(Reuters) - American Express Co (NYSE: AXP) said it would overhaul its management, streamline its marketing operations and cut jobs as it looks to reduce $1 billion in costs over the next two years.
The company is facing stiff competition in the co-branding business and has lost lucrative long-term contracts... More
February 17, 2016 12:43 PM EST
The following announcement is based on an internal note to American Express (NYSE: AXP) employees from Kenneth I. Chenault, Chairman and Chief Executive Officer:
As I shared with you a few weeks ago, the operating environment is changing, and we are moving with a sense of urgency to accelerate growth. Against the backdrop of ongoing cyclical headwinds and longer-term shifts in the payments industry, our plan is focused on three key priorities: growing revenues, optimizing investments, and reducing our expense base.
Today I want to talk about our approach to... More
