What Recession? AmEx Shares Ambitious Hiring Plans As Peers Let Go Staff

  • American Express Co AXP shared plans to hire 1,500 people for technology roles dispelling slowdown concerns as its peers slashed jobs and cut expenses.
  • The new hires would fill roles like data scientist, software engineer, and others by the end of the year, Reuters reported. 
  • AmEx had already brought in 3,600 tech employees this year.
  • AmEx bumped up its annual revenue forecast in July, boosted by a surge in spending on travel and entertainment.
  • Contrastingly, Goldman Sachs Group, Inc GS said it would likely cut jobs soon.
  • Robinhood Markets Inc HOOD and mortgage lenders, including loanDepot Inc LDI, also slashed their headcount. 
  • Price Action: AXP shares closed higher by 1.5% at $155.37 on Monday.
  • Photo via Wikimedia Commons
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