American Express Co. said it will cut more than 4,000 jobs this year as it curtails expenses.
AmEx also said Wednesday that it took a $206-million charge in the fourth quarter to "improve operating efficiencies.
The lender, led by Chief Executive Kenneth I. Chenault, agreed last year to sell digital travel firm Concur Technologies Inc. to SAP, resulting in a $719-million gain. The company used a substantial portion of that gain to fund the charge, the company said.
Fourth-quarter profit climbed 11% to $1.45 billion, or $1.39 a share, from a year earlier as customer card spending increased, AmEx said. The average estimate of analysts surveyed by Bloomberg was $1.38 a...