Amex workers await job cuts fate

The European headquarters of American Express is in Brighton

Sussex workers at the credit card firm American Express are awaiting news of their future after it unveiled plans to cut 10% of its workforce worldwide.

About 7,000 jobs will go, but it is not known how many of the firm's 6,000 employees in the UK, of which 4,000 are in Sussex, will be affected.

Local Labour MP Des Turner said any job losses would have a significant effect.

"I don't have many major employers in my constituency and Amex is extremely important," he said.

"It employs 3,000 people there directly in my constituency. At least another 1,000 elsewhere in Sussex.

"Any job losses there are going to have a very significant effect."

Hiring freeze

Amex, whose European headquarters are in Brighton, has said it will still continue with plans to revamp its headquarters despite the potential job losses.

The move to cut its workforce is part of the company's plans to cut costs by $1.8bn (£1.1bn) by the end of 2009.

American Express said most of the jobs would go at management level or in areas which did not deal directly with customers.

It also announced plans to suspend salary increases on a management level for 2009 and introduce a hiring freeze for open positions.