This week a total of 1,200 employees will be axed from AIG. Layoffs occurred in New York, New Jersey ,Atlants and all over the USA this week. They will continue through this year and also 2017.
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Hired moron executives from tiaa. Cref.
Forced contractors to move from nj to charlotte and then fired them
Have no idea what they are doing
There were a couple of recent waves, the first was big with over 1,000 people, AIG will also be closing some offices. Very surprised there isn't much press in the Insurance World or Financial News on all this drama. They used to say their greatest asset was their people, no more good people, no more AIG. The shining star is now a dim bulb, never would have happened if Hank was still in charge.
The First quater results will be in early May. Don't expect much to change in a few months. They got rid of anyone who knew what they were doing. Keeping cutting that is what they are doing. What happens if the current stratergy does not work ? They what's next.
Most of the competent employees are gone yet many overpaid drones remain, wondering when they will be found out. Americans are no longer needed or wanted by American International Group. The company should just start writing policies only in Tagalog and be done with the US.
oh how the mighty has fallen. I went to work for aig in 1982 and at that time it was a good company and was a shining star in the insurance industry. I was proud to say I worked for aig. I worked there 28 yrs and was layed off in 2009 - the beginning of the layoff era. I am glad I was first to go and not part of the slow bleed that is going on now.
It is sad to see how the corp world at aig and so many companies has changed and or either ran by investors or the goverment. If your still an employee good luck staying employed -
Just saw on the Internet AIG to layoff 242 employees in NYC in next two months...
How do you stay focused when you are awaiting a call from HR to ask to to come into the conference room. You sign your package deal and then then they walk you out the door
They just hit Philadelphia too. With over 120,000 jobs nixed across the States, all employees had their Pensions nixed as well, won't doubt Brokers are ready to pull their accounts.
But on a happy note, one of the big wigs got his pink slip too, but his severance package was about 17 mil, so sure he'll get by some how ! smh (Guess those 120,000+ jobs that were nixed paid for his severance pay ).
Stock holders should be getting nervous.
you read the targeting much differently than myself, Waiting3BXed - they did take out a lot of executive deadweight and some who weren't, but who had merely failed to kiss the right arse when the new regime took over. That said, there are admins, analysts, data center technicians and tape librarians going in this round as well as a slew of PM's. If I was bypassed this round (I'm not sure - I got a text to call my HR Mgr late yesterday evening), I will just be waiting like you for the next.
Nothing like the smell of Job Desperation in Spring!
The next round is scheduled in June. They are not just going for expensive people. Claims adjusters, claims managers and also underwriters are being taken down. The last time I looked these people were essential to a claims organization. This will also continue. Into 2017 for sure.
They will occur in waves. The next wave is projected to be in September. They are targeting expensive people and people whose job function is deemed to be not mission critical.