Amex wields the axe in NZ

American Express' New Zealand operation will be managed from Australia as the company retrenches in response to slowing consumer spending. Photo / AP

KEY POINTS:

New Zealand jobs are among the 7000 positions American Express is to cut from its global workforce and its local operations will be managed from Australia.

Luisa Megale, American Express' Asia International vice-president, public affairs and communications, confirmed that New Zealand jobs were among the 7000 or 10 per cent of its global workforce the company last month said it planned to shed in response to slowing consumer spending.

"We are in consultation with the impacted staff - and will continue these discussions for some time. We expect to finalise the new organisation structure in December."

The Business Herald understands the company employs 120 staff in New Zealand but Megale said it was too early to say how many would remain under the new organisation structure. She said roles under review were not customer facing.

American Express's Australian and New Zealand management was to be consolidated under senior vice-president Pierric Beckert, who is based in Sydney. American Express previously had a New Zealand country manager but Megale said "this layer of leadership has been removed".