Thread regarding AIG (American Intl Group Inc.) layoffs

I feel sorry for the young folks joining. This is not how well run companies are managed. Leaving in April and looking forward to it.

To the previous Post - PERFECT!

agree she is doing what she has to do to get paid. she is little more than a cheerleader. no power to make any decisions without pz signing off. her title should be chief executive reporter.

this is the larger issue with aig as a whole. the company hates constructive criticism even if it is valid. if you want to get ahead you have to kiss up and never, ever disagree with management even if they are wrong because they are the all knowing and you could not possibly understand the complexities of the work that you actually do everyday. its why management only hires their friends and why they travel in groups when they switch companies. you follow the alfa dog and shut up.

not the best way to fix a complex company, but what do I know? I'm not an exec so i could never understand how their brilliant minds work. lol

She is doing what she has to do to move up the ladder. Excellent Job! Money, Money, Money

Kathleen licks PZ's boots so hard that it is embarrassing. She is a fake leader with no power whatsoever so she kisses up to PZ like no other. I feel bad for her because it is demeaning to every woman in this industry.

As I remember, Hancock set up the current 401k distribution so this team cant even take credit for that.

If you are an underwriter then you should understand that a 107 combined ratio after 3 plus years in control isn't exactly delivering results. This world is and will be CAT heavy forever so it is plain stupid to exclude CAT losses. If BD and PZ were making minimal salaries until this thing turns around, it makes sense, but charging superstar salaries to return less than common results is an insult to every employee that hasn't seen a decent raise in many years.

Its like paying a superstar athlete $100's of millions to finish last. At some point you have to put up or shut up. So far, this team has done little to put up except for cutting expenses which isn't tough to do even for a terrible CEO. The easy start to putting up would be getting rid of the dead weight in Bermuda, but PZ signed a pact with the devil so millions and millions keep getting earmarked for Bermuda, but we can keep shutting offices all around the country. Bravo!

Hancock was better than the current group, stock was in the 60’s with him.

Slowly making progress??? Will take them 100 yrs to get to the promises that they said they would do in 3

My point regarding growth in my 401K is due to the stocks invested in the portfolio grew in value due to a profit (or the hope of future profit) of those companies. Employees are always very important to the success of the corporation but don't fool yourself to think they have more of a right to corporate profits than the owners/stockholders.

Are BD and PZ doing a great job in delivering shareholder value? Only time will tell, but in my book, they had a lot to fix after Liddy and Hancock and it is taking awhile to get the company back on track. I am an underwriter and get very frustrated by the bureaucracy and controls - but I see that we are slowly making progress.

To 2 post down - the stocks have been in the tank for a long time now - it does not appear that current executives care about anything other than their bottom line - not the shareholders - and everyone knows this is a cr_p hole place to work that has been run into the ground - while companies need to make a profit and care about shareholders - this place is over the top and blantently overtly indifferent and constant layoffs are not the norm in companies that look out for shareholder interest.

In response to last post. They are not hiring quality employees. I have been with AIG for many years. The quality of employees has gone down. They push out the qualified (probably well paid) employees by dumping more work on them. What is left, is mostly old farts who know nothing other than AIG, young a-holes who will leave in two years, lazy f@cks who survive because they "know" somebody. and the last of us s—ers who do work for at least 3 people and are actively looking for a new job. As for the 401k, it's mostly your money that is being invested. So, if you are lucky to retire at 65 then good for you. AIG has been going down hill for the past 12 years. By the way, the severance package will change in 2021.

It sounds like everyone responding to these posts feel employees interest and well being should be placed above the interests of the owners of the company (stockholders). I am not a manager but I certainly have enjoyed watching my 401K value increase to the level where I might be able to retire at 65. In any company, the board of Directors and executives purpose is to run a profitable company for the benefit of the owners. They do that by hiring quality employees and encourage them to do a good job by treating them well, paying them a market wage and providing an interesting and dynamic place to work. If you feel like you are not treated fairly or can make a better wage somewhere else, you probably should look for another job. Maybe your new company will put diversity and employee pay above interests of shareholders - good luck with making that last!

You know it is going to s— when management focus is on improving shareholder value / stock price vs. running the company. Aren't employees one of the most important stakeholders?

to the previous post - that's why I can't stomach this company and folks who support their hypocrocy - can't get the stench off fast enough - ugh

Had the dubious honor to be on a call with PZ in the recent past. Look, I don't live in a pollyanna world so I understand that his main focus is on numbers. But, every word that came from his mouth was we are doing this in the best interest of the stakeholders and the "street".

In other words, everything we do at this company from this point on has nothing to do with your wellness, diversity or the best interest of any employees. This is about making investors happy and making the stock price go up, period. That was the tone of the entire call.

This is a microcosm of most of corporate America. Just saying, don't believe the propaganda. When you are deemed not in the best interest of the stakeholders for whatever reason, you will be gone. Always remember that. Everything else is just hype.

You missed one. A company that would lay off the hard working person on team and keep the lazy ones. It just happened.

You can only do so much and they will not fire you so work at a slow pace and let the manager get more people. That is what he and or she get the big bucks for. also take a Nap!!!

I wish I could do your nap routine. Another c-appy thing about AIG, they allow some adjusters to have 60-70 claims (nap time desk) while others are pulling out their hair because of high case loads and/or special accounts. During Covid, dying company and waiting to be RIF’d... they could at least balance out the work.

I feel like c-ap because Kathleen is rude to everyone she encounters and can’t help but people down. Head of pcg is a bully.

So take a nap in the morning, a 2 hour lunch and stop work at 2 pm. That is what I do and hear nothing.