Topics regarding layoffs at AIG (American Intl Group Inc.)

Topics regarding layoffs at AIG (American Intl Group Inc.)

This is ridiculous

Attrition at our team has been really bad, we have people leaving all the time. But what's making the bad situation worse is the replacements we are getting - when we get them. These people have no idea how to do the job they were hired to do. They... — read more 

STI updates anyone?

Seeing posts with estimates ranging from 50% to 95%. Has anyone actually received a firm number from their manager yet?

Any more layoffs for IT?

Does anybody know if John Repko announced in his town hall meeting (By the way, it only lasted less than 5 minutes) if there are more layoffs for IT across the board?

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| 1510 views | | 6 replies (last March 14, 2019)
Post ID: @OP+Y3jke4U

Any chance of a buyout happening?

It’s becoming clear that layoffs are not business as usual and that they aren’t gonna stop. Can the fact that they are trying to get rid of a bigger portion of the workforce make them reach a decision to perform a mass buyout, or at least a buyout... — read more 

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| 1171 views | | 3 replies (last March 13, 2019)
Post ID: @OP+Y3EIYPf

More layoffs

Eagle. Middle-market, Fin Lines, Lexington, Personal Lines (all PL companies). That is for starters. They have to cut, cut, cut. Above are division not writing any business and has a poor combined ratio. Good Bye! Is this just guessing or has some... — read more 

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| 1491 views | | 6 replies (last March 19, 2019)
Post ID: @OP+Y3a8iLY

Corp Culture

I hope all the folks cut get better roles and with a company whose culture cares about their people. AIG isn't alone in screwing over their FTEs so senior managers hit cost cutting targets so they get their golden parachutes. Several senior folks... — read more 

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| 1750 views | | 9 replies (last March 22, 2019)
Post ID: @OP+Y3eKb1l

AIG is slow to change

I agree that AIG is slow to change, a huge part of that is due to the continuous cyclical pattern that AIG has of hiring new leadership (doesn't matter the age) who come in making changes w/o taking enough time to utilize experienced talent. This is... — read more 

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| 1204 views | | 2 replies (last March 12, 2019)
Post ID: @OP+Y2lBZt7

In what areas does AIG plan to cut its workforce the most?

Any word on what parts of the company could be impacted the most, or is there at least some logic by which we can determine weather we’re safe or no? I imagine that parts that can be outsourced easily, could be the biggest hitting point.

Pointless

I was excited to start working here but all I've experienced is insecure, unskilled operations managers / employees who try to stonewall those who show an oz of ambition towards progressing in their respective careers. Yeah, some employees are nice... — read more 

Only people can save this company

The individual who posted about AIG’s older workforce inability to adapt to technology as being a culprit for the company’s failures is so uniformed, it is just sad. I do not know what task they perform but in the world I live in large casualty... — read more 

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| 840 views | | 1 reply (March 12, 2019)
Post ID: @OP+Y1VBxpr

To what degree will AIG shrink?

I get that they need to save money wherever they can, but to what degree can the company afford to shrink, in terms of the worker headcount,before it won’t be able to operate normally? How much small do the leadership see AIG at this point?

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| 1240 views | | 3 replies (last March 10, 2019)
Post ID: @OP+Y0HBlzq

Is it really happening on monday?

As monday approaches I’m getting really worried. Did anybody manage to confirm that monday is the day of massive layoffs. Would be good if someone had info from a reliable source, getting a little tired of rumors.

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| 1940 views | | 7 replies (last March 11, 2019)
Post ID: @OP+XZsBGAX

Bonus

I just want to be around until the bonus is paid out. After that, arrivederci...

When a company restructures almost every other year...

...it's a huge sign of poor management and rampant nepotism. Every time a new crop of leaders come in, they bring a lot a bunch of their friends who are hired not because of their abilities or experience, but because they just happen to be buddies... — read more 

AIG To Be Acquired

AIG will be broken up this year. Past layoffs were about efficiency. This round is about positioning (for sales). Note that McKinsey’s huge engagement has been quietly shuddered. No more $100m transformation. Now it’s time to put GI on the block in... — read more 

Is it true that mostly older employees are targeted?

From what I’ve seen at my location a majority of the affected folks were over 40 and had been with the company for quite some time. Is it the same at other locations and if it is, how is it possible that they can do this, and escape being sued?

#1 highest paid insurance ceo

https://www.businessinsurance.com/article/20180606/PHOTOS/912321831/Insurer-pay-AIG-Duperreault-Liberty-Long-Chubb-Greenberg-Travelers-Schnitzer-Har

Severance info

Basically, they pay you out for the remainder of the week and then give you two weeks short notice pay and paid for un-used PTO. After that you can opt to take the 2 week/yr payout (52 wk max) as a lump sum or have it paid bi-weekly as regular pay... — read more 

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I'm glad I actually found this site. I'm not working in America so I wouldn't understand the full layoffs or what the heck is going on. But they're are cutting a lot of people within AIG.. I'm in IT and I heard these rumors last month, directly from... — read more 

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| 1331 views | | 1 reply (March 7, 2019)
Post ID: @OP+XX0DR7h

Severance?

Is it the usual or have there been some changes? I'd really appreciate an answer, just to be ready in case this thing is still not over and my name comes up.

No media coverage of AIG layoffs?

As far as I can see, this goes well beyond the standard “a few here, a few there” layoffs, but I can’t say that I’ve seen that they have been reported anywhere in the media. Are the journalists that interested in stuff like this?

What's going on today?

There was talk about more layoffs in Operations - is it happening? Anything else being hit?

Karma is a...

Layoffs are always sad as generally a lot of people who do the actual work get the axe, in this case though there were some senior managers and global heads in IT who were ruthlessly cutting people for the last one year, got the axe themselves.

First Lay-off of 2019

Following a massive layoff in December following a massive layoff in october...

Massive Layoffs in IT

Multiple teams and locations impacted today. More than 200 names from my understanding.

STI ?

Does anyone know what the company multiplier will be for STI? It is due soon but I have not heard...

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| 2020 views | | 9 replies (last March 1, 2019)
Post ID: @OP+XP7XhE7

Who’s next or where USA & or worldwide

this goes out to Post ID: @VT1whrW-1Qxsx Do you know that layoffs are coming & if so do you have an inside source or inside track or connected with someone or some folks inside of AIG not doubting that job cuts are actually coming but trying to find... — read more 

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| 3650 views | | 23 replies (last March 2, 2019)
Post ID: @OP+XJOQQEG

Big cuts coming in March

AIG is not a well run company. There are some very good people working there, but not enough to offset the incompetent senior management, who feather their nests while firing lower level people. Contractors seem to outnumber FTEs, especially in... — read more 

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| 4440 views | | 28 replies (last March 14, 2019)
Post ID: @OP+XJx0nVe

How long?

How long will you stay at your job if you are grossly underpaid? My supervisor did not do my review with due diligence. I know the usual excuses: Firm made losses (what's new in this?) You're lucky you're paid less-so, you aren't on RIF list Can't... — read more 

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