Thread regarding AIG (American Intl Group Inc.) layoffs

The only option for mgmt is to make short term decisions?

This industry has strong headwinds. On top of it, we dont have any durable advantage over our competitors. Our technology has not been updated for decades. We are becoming obsolete. We all feel that we are working very hard but reality is that our work is not creating any shareholder value.
So, the only option for management is to make short term focused decisions and squeeze out as much as possible in the short term. I know I would do the same if I were the whole. Don't feel bad, its not personal. It is what it is.

I took this from the thread below (+1fbnJBpQ) Yes, sometimes I also think this is the bitter truth, whether you accept it or not.

by Anonymous
| 1481 views | | 3 replies (last February 18, 2022) | Reply
Post ID: @OP+1fdRrurp
Comment! It's anonymous!

3 replies (most recent on top)

I disagree to the person that said you shouldn’t blame BD and PZ. They are just hacks. They made terrible decision after terrible decision. They made Peter H look like the greatest thing since sliced bread. They brought in over paid and under skilled consultants to take the next step forward for the company. The person that posted support of BD and PZ must be one of their buddies or a consultant…..

One of the first thing Bob B(rest his soul) did was get rid of the management consultants because they added no value at a huge expense. He was a true leader and put the company on a path to the next phase. Bringing in management consultants mean you have no leadership capabilities and you just want to pad your bonuses for the next few years. They then hide their terrible decisions behind the consultants. The consultants don’t care because after a few years, they will do the same thing to another company, then the next, etc

by Hank
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Post ID: @9bhd+1fdRrurp

Very well (but sad) said.

by Anonymous
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Post ID: @1kyc+1fdRrurp

Yes, this is the sad truth. We can all cry foul by blaming the management and ceo. But most of us in that position would do exactly the same as management is doing.

  1. Aig is managed by professional Ceo as opposed to founder ceos. Founder ceos can afford to not care about the stock price in short term . But professional ceos dont have that luxury. They have to deliver in short time frame ..else they are shown the door.
  2. Aig is ruined by several former ceos who were not smart and who didnt do long term investments. We are taking up aws cloud platform in 2022 and updated windows license last year. These are very basic technology investments which should have been done 5 years ago.
  1. We tried to launch insuretech venture known as blackboard which turned out to be failure. Now we know we cant compete with these new insure tech companies.

Initially BD and PZ didnt want to split GI and LR . But now they have given up. Split up is the only way for making the market realize the full potential of aig subsidiaries, which is good for LR but will be bad for GI. It is overall better for aig shareholders.

It would be foolish to expect any raise from management when company ( GI part) is staring at the abyss. We worked hard but it was just bad luck guys. This company didn’t work. Perhaps the next one might be better. All the best everyone !

by Anonymous
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Post ID: @1vkg+1fdRrurp

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