American Express plans to hire 1,500 new employees for its tech arm
Yahoo Finance reporter Ines Ferre details how American Express is planning to hire roughly 1,500 coders, engineers, and data analysts for its technology division.
Video Transcript
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INES FERRE: Hi, Seana. And American Express is planning to hire some 1,500 coders, engineers, data analysts. Now, keep in mind that American Express has already hired about 3,600 technical workers this year. According to Bloomberg, 60% of the hirings are going to be in the US-- the rest in India and also in Europe. Now, this is in contrast, really, with what's been happening within the tech world, where we've seen some hiring freezes, even offers being rescinded.
American Express, though, it raised its revenue guidance back in July because of spending on travel and entertainment as people are getting out and about more and spending. And year to date, the stock is down just 7% compared to the S&P 500's 18%.
Now, in an interview, American Express's CIO Ravi Radhakrishnan, said that it is a challenge to hire, to recruit technical talent. Amex does embrace remote working. About 40% of its staffers are opting to do virtual-- be working fully virtual. A lot of them are going into the office about two days a week. But definitely a plus for them to be offering that remote working in this tight environment when it comes to labor.
- All right, Ines. Thanks so much for that update.
