1.0
1 Apr 2009
Current employee
Phoenix, AZ
Recommend
CEO approval
Business outlook
Pros
I'm grateful my salary from American Express still pays the bills (for now).
Cons
American Express is probably experiencing its toughest challenge in its long history. We gave out too much credit and are still being hit with huge losses because of it. Our leaders overreacted and have now not only stopped issuing credit almost completely, but also started paying existing cardholders in good standing to cancel their accounts. Now we make almost no money. What this has meant for employees is layoffs, pay cuts, longer hours as our numbers dwindle and low morale.