This is a master thread about AIG layoffs? Any chatter, news or rumors?
18 replies (most recent on top)
Interesting comment below:
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Anyone working remote is at severe risk as PZ wants people back in offices and not happy that his expectation isn’t being met and now targeting the remote workers as the first round.
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The real estate footprint in many areas has been reduced so significantly that this wouldn't happen unless they increase.
Anyone working remote is at severe risk as PZ wants people back in offices and not happy that his expectation isn’t being met and now targeting the remote workers as the first round.
To the last post, let’s say you worked the complete 2022 year and get riffed before official STI payout, don’t you still get the STI as part of your package? My understanding from others riffed, they got their STI.
There is some talk about a staff cut before STI so that the bonus pool can shrink and management can take the money back.
They never say numbers at town halls. They will "management-speak" it. I don't doubt 20% reduction next year......they just won't say it.
In PZ town hall they will announce layoffs like 20% of work force chop.
There will be layoffs in first quarter 2023. The list is being prepared as we speak with teams and managers in consultation. The goal is to reduce it to bare bones organization supplemented by offshore teams.
They might not sti for low performers and will give it to top performers to retain talent. Low performers will be screwed anyways.
That's true, now figure out how to get that message to your leaders.
Some here thinks that people Aren't needed to run a business... It's true that multinational giants Aren't charitable foundations, and some decisions may be harsh on the employees but right for the company... however, it's silly to think that hiring the right persons and put them in the right places doesn't matter, like if companies were some kind of animal that has its own life... That's not the case. AiG isn't improving, they are just making up the balance to make things look better, we that are inside can see that slowly people Aren't caring anymore... We stopped believing in AIG
If you work for a business unit that still loses money and is run by ineffective, out of touch upper management you should be very worried going into 2023.
For those saying you are an expense to this company, how does that work when you fire 10 reliable employees and replace them with 70 confused and clueless consultants? Is that considered cheaper ? Or is it wealth and intellectual property transfer to others…
That's a funny post, kudos!
There is some bloat, but the bloated positions are mostly manager favorites. You know the ones that are always busy, but never produce anything tangible. When the non-favorites are gone the chosen ones will have to start doing real work, heaven forbid.
Don’t you love these self-centered people who, on every thread, say “who’s gonna do the work if they fire everyone”. Don’t you understand that, as the other poster stated, you are an EXPENSE to this company and I guarantee you, as much as this company has riffed, resignations, etc., this company is still bloated. On my team alone, there are 2 people who do absolutely NOTHING all day. And when they do scratch their left ear with their right hand, we have to hear about it in the huddle like they launched a rocket into space and had it successfully return to earth. There is still a lot of meat on the AIG bone. And don’t worry honey, we’ll figure out a way to do the work when you’re gone - taking all that knowledge, acumen & savvy out the door with your bad a$$ self!
If you leave tomorrow the company will not shut down. Who will do your job? Your coworker will have to step up, a third party administrator may come in, your boss may have to step in?
Any of those options are cheaper than paying your a salary, insurance, 401k and so on. Do you get it now? You are an expense. Just about the most expensive expense a company can have.
When is the last time PZ talked about anything other than the stakeholders at a quarterly meeting? It's not about doing what is right for the company. It's about freeing up capital to invest in the stakeholders. Look around at what is happening at this company. It is obvious that customer service is not a top priority.
Have you ever had a car, that ran horrible, bald tires, windows did not work, dented body, faded paint that did not match.....but that POS would still get you to the show? This is what you are dealing with here. As long as it keeps on running....you will drive it into the ground. I totally agree with the 10% reduction for next year......I see it coming.
I don't understand, who is going to do the actual job if they Fire everyone?
No layoffs until after sti is paid in February and the full extent of voluntary resignations is known. Then hold on. If you want to stay in this dump you need to hope for a great deal of voluntary departures after sti is paid. Look for expense reduction to resume before the end of Q1 2023 with a 10% to %15 workforce reduction goal by Q2.
Execs will do what whatever is necessary to keep the stock buys back going. The only substantial way they can influence the bottom line is expense reduction. Remember, 2023 is the year GI must stand alone and show a profit. If you think the last few years were difficult, you ain't seen nothing yet.