Someone from upper management gave me a hint that layoffs are indeed coming and they have people lined up and we should have a plan in place.
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Layoffs, don't talk to me about layoffs!
At least you got a hint. Most AIG managers are spineless and don't have the ba--s to say anything but read off of a computer screen with canned statements they have to read to you. These people are sc-m
I was one of the VERP people. It was a good package and yes it was hard to say NO to it. But call it VERP is a fancy way of saying RIF for old people without being sued for ageism discrimination. Spent almost 20 years at AIG and it was said and difficult to leave a job I liked and people I considered family. BUT: life outside is even better. I was lucky enough to land a job soon after being VERP'd and forgot how nice it was to work for a company that constantly has no budget for anything, no promotion opportunities and always being in a constant state of turmoil. Every other year it was like being with a 100-year start-up company. And you make a TON more money when you leave dysfunction and complacency. Scary yes. Better for you and your mental health in the long run.
Claims , PAD ,Regulatory OK ?
ua's laid off. hackcenture gets the jobs
Which AIG departments were effected?
What other orgs in the US
What about corebridge
AIG just axed all Staff Counsel in the United States.
How many across both the orgs?
MetLife folks will be rescued by the friends.
Whole of UK under consultation but heard rumours that there are lists already in place for who is going to go.
This week it will happen. Starts Wednesday. Reality of life. But if I’m still here I’m not training a bunch of offshore contractors how to do their jobs. Or perhaps I will maximize their confusion. I understand why people don’t like it here, though.
Anything new on US layoffs?
The whole UK staff is fu---d now. May they all start looking for new jobs. This company is getting fu---d and fu--ing their own people. Mostly likely to see a subpoena soon. God bless the employees.
All UK team are affected?
Anything new on USA layoffs ?
In the news now
https://www.insuranceinsider.com/article/2dpqrpkx0d2ynhrfbal1c/global-insurers/aig-launches-redundancy-consultation-for-450-international-roles
The entire UK has been put under consultation.
Any idea which UK teams?
This company and the spinoff is a piece of sh-t run by a filthy management and useless management from other companies who bring in their friends and fill up the spots of position of laid off people who had a significant knowledge about the company. Working for this company is like sleeping with a wh--e.
Some of the teams in the UK have a compulsory call about AIG Next tomorrow
More of the same. Take whatever you can from this place, training, connections, certifications. Polish up the resume. Spend more time improving yourself. If you need replacement equipment or anything, don't hesitate to ask. Trying to save the company is not your problem, no matter what your manager may say. Don't spend extra time at work. Clock in and clock out. Nothing is urgent.
Please people , stop stressing. It is what it is. Stressing is not going to change who is on the list , the package or anything else. Instead use your energy to focus. Get your info together.Write down the names of people you've worked with and left and research where they went. Start with them as contact them first. Please try to relax. I stressed every single day . It accomplished nothing. Once I was out all the stress melted away. Severance works out . Don't take COBRA it's much too expensive , it could be as much as 3300 a month for a single person. Go through the Affordable Care Act through your state exchange, it will hold you overuntil you get something. Again don't stress. You don't know if you're on the list. Don't ruin your days.
Cobra is typically available up to 18 months from termination meaning end date if lump sum or end of salary continuance period.
If you opt for lump they don’t give you anything. If you go for month to month option as long as per contract you can get health, dental and Vision. If you have HSA you can contribute. No 401k contributions.
I would assume they offer Cobra coverage until severance ends, maybe a few weeks further, but I bet no 401k match.
Does the severance include keeping your health insurance benefits and 401k match or do they terminate all benefits and just pay bi-weekly till the severance ends.
But September 15 is a Sunday?
September 15 is date for mangement you are just a person severance package will 2week for a year max 24 to 30 + 8 weeks
2 things - standard severance may have been revised as the 2024 handbook says to contact HR whereas prior handbooks laid out the severance in writing. As for layoffs, of course there are going to be layoffs - N/A & Global. The VERP was only developed as a way to get rid of older workers in N/A but the list is still the list and it’s happening in Sept.
It's global this time. HR calls have started.
Country managers have been given numbers and lists.
All of this needs to be completed before the end of the year.
Standard severance with salary contuation is a better package than VERP in many cases.
More than a few people didn't take VERP hoping to get the historic severance package instead.
Those laid off will not get anywhere near what the VERP entailed. You will not get the full STI , the VERP didn't.The standard severance will be given. The VERP settlement that was given was given to make it an offer the participants couldn't refuse. With the regular layoffs there's no choice involved. Unfortunately, there's
nothing that can be done. Collect the severance. It seems many jobs are going offshore.
Any details in areas impacted?
VERP was good for a certain group. Regular severance actually better for most, especially if you don’t have a spouse with insurance coverage and have a decent STI amount as part of total comp.
It’s confirmed. Coming very soon. Numbers are mind boggling except there will be no verp deals
Is there a timeline for this rumor?