To view our videos, you need to
enable JavaScript. Learn how.
install Adobe Flash 9 or above. Install now.

Then come back here and refresh the page.

The cuts represent about 10 percent of the company's workforce; it is not clear how many of those lost jobs are from the company's New York headquarters.

The move is part of a plan announced in July by the credit card issuer to slash $1.8 billion in spending next year.

A hiring freeze will also be put in effect, no upper-level salary increases will be given, and the company will scale back technology and marketing investments.

The mayor says sales tax revenues in the city will slow as AmEx's business slows, but he offered some reassuring words about the company's prospects.

"What you're seeing is a reflection of the level of economic activity, not a reflection of people worrying about whether American Express can stay in business," said Mayor Michael Bloomberg. "It's financially, as far as I can see as an outsider and from anything anybody's ever said to me, it's an exceptionally well run company and financially sound."

American Express says profits dropped 24 percent in the third quarter as cardholders spent less.