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Gold/Mining/Energy : Gold Price Monitor
GDXJ 90.01+2.8%Nov 5 4:00 PM EST

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To: Alex who wrote (73588)7/18/2001 12:30:04 PM
From: Ahda  Read Replies (1) of 116752
 
Wednesday July 18 10:10 AM ET
American Express to Slash Jobs
By Brian Kelleher

NEW YORK (Reuters) - American Express Co. (NYSE:AXP - news) said on Wednesday it will slash up to 5,000 jobs, or 5.6 percent of staff, and take up to $1.2 billion in charges, the latest large financial services firm to fall victim to the slowing U.S. economy.

``We now believe the high level of defaults will continue through next year,'' Chief Executive Kenneth Chenault said on a conference call. The company also expects the U.S. economy to be weak through next year, he said.
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