OTHER NEWS - Oct. 6, 1994

American Express Announces Plans to Cut 6,000 Jobs: American Express Co. also said it will shut several operations centers over the next two years as part of a massive reorganization of its credit card division. American Express would not estimate how much it will save from the downsizing effort. The Wall Street Journal reported earlier this week that the cuts will shrink expenses by $500 million over the next two years. The company will shut three of its six operating centers in Phoenix, eliminating 2,000 of the 7,000 jobs there. In Florida, the company will close an operations plant in Miami and greatly reduce the work processed at a center in Jacksonville. The moves will result in 1,500 fewer jobs, mostly in Jacksonville.