“The belt-tightening in American corporations that made relics of pension plans, in-house cafeterias and even many holiday parties is squeezing another victim:American Express Co.’s AXP +0.73% travel business.
Responding to the rise of do-it-yourself policies that ask employees to book work trips online rather than calling an AmEx travel agent, the New York company is trimming its corporate-travel operation.
The overhaul, announced last Thursday, will result in the loss of 5,400 jobs as the company invests more in technology to handle customer-service functions.
The move is the latest in a series of hits to the company. Long known for peerless customer service, global cachet and its throwback traveler’s checks, American Express was tarnished in the financial crisis by an ill-timed bet on less-affluent credit-card customers and last year was slapped by regulators for alleged billing missteps. AmEx said last week it would spend $153 million to make amends with wronged customers….”
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