No need to if you work at AmeriKan Express:
"American Express to cut 5,400 jobs" by Alex Veiga | Associated Press, January 11, 2013
LOS ANGELES — ‘‘Against the backdrop of an uneven economic recovery, these restructuring initiatives are designed to make American Express more nimble, more efficient, and more effective in using our resources to drive growth,’’ said chief executive Kenneth Chenault.
The shares slipped 14 cents to $60.65 after hours; they had risen 53 cents to $60.79 in regular trading.
American Express said it will book an after-tax charge of $287 million due to the restructuring. It’s also recording $212 million in expenses related to reward points for its cardholders and roughly $95 million in customer reimbursements and other costs.
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The combined charges will reduce American Express’s fourth-quarter net income by 46 percent from a year earlier.
Related: American Express Co.’s second-quarter profit rose 5 percent
But they never tell us how much profit they made?
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