Anyone else praying they get RIF'ed?
Pretty disappointed I didnt get the last round. I hear December there will be more but who knows.
17 replies (most recent on top)
With the way things are going, it's not hard to see that there will be RIF's and maybe more than originally anticipated. There isn't a lot of new business being written either. Very sad. We lost some great accounts. Stay tuned. There's all kinds of rumors and some are hard to verify.
Middle-Market, Fin lines Lexington and Eagle will be next to have cuts. They are writing little to no new business. (Oh, I forgot Healthcare, what a joke. Some underwriters have 20 total accounts. cut cut cut!
Although we do our best each and everyday, it's been a long hard stressful journey working here for many many years not knowing if your group will be the next to get RIF'd. It's a hard thing that many people don't understand
I wish I could volunteer to get RIFed and I am "no low hanging fruit", whatever that really means.
I put in my time w AIG, but the low morale in my department is unbelievable.
I have never in my life worked in such a mess as of late. The moral in my department is beyond sad. This was a job I loved and excelled at, we had a team. If I wasn't vested I would be looking at other options. After giving 16 years of my best I refuse to stop working hard and refuse to not depart without an advantage which will be necessary for a career change at an older age.
From a BD excerpt today, read into it what you will.
"So while there is further to go, we see our path toward underwriting profitability as we move into next year. This requires making some tough decisions and sticking with our course of action over time"
I did volunteer, in writing no less, and my manager didn’t even bother to respond! That was more than 3 months ago. I am looking elsewhere and trying to find something ASAP, because waiting around for a package just doesn’t even seem worth it anymore. I refuse to let this company bring me down, stress me out, and have a negative impact on my health after all I’ve done and all the hard work I’ve put in. To be treated this way is absolutely disgusting and they should all be ashamed of themselves!!
People have asked.
Generally it is the top performers who have invested a lot of themselves here but feel they are no longer able to succeed given the lack of support, resources and/or technology.
Rarely works that way. Either because the people asking are key or because the decision on who and what makes sense are made elsewhere.
Well... for anyone hoping to get RIFd, why don’t you raise your hand and volunteer in place of someone else then? You are obviously the low hanging fruit that is only hear to collect a paycheck and bring the company down.
About 20 I would guess
How Many RIfs will this cost???
AIG Appoints Peter Bilsby Global Head of Specialty
5:00 am ET October 29, 2018 (BusinessWire) Print
American International Group, Inc. (NYSE:AIG) announced today the appointment of Peter Bilsby as Global Head of Specialty. In this new role, Mr. Bilsby will report to Christopher Townsend, Chief Executive Officer of AIG General Insurance International, with responsibility for the global Energy, Marine, Aviation and Credit Lines businesses.
Since 2016, Mr. Bilsby has served as Chief Executive Officer of the Talbot Group, AIG's Lloyd's of London insurance and reinsurance specialist which it acquired in July of this year as part of its purchase of Validus Holdings Limited. Mr. Bilsby will continue as CEO of Talbot until his successor is appointed.
Mr. Townsend commented: "I'm pleased to appoint Peter to lead our Global Specialty businesses. Our clients and partners will benefit from Peter's deep understanding of this sector and his leadership track record at Talbot."
Mr. Bilsby commented: "I am very much looking forward to working with the team to build a market-leading global speciality business. It has been a privilegeto serve as CEO of Talbot and to work alongside such talented colleagues."
Prior to serving as CEO of Talbot, Mr. Bilsby was Managing Director of Talbot and Director of Underwriting. He joined Talbot in September 2009 as Head of Global Aerospace from XL London Market Ltd. Prior to XL, Mr. Bilsby held the role of Managing Director of the Aviation Division of Markel International.
This is wishful thinking. If they asked volunteers to RIF, it will be all the good ppl ( still here ) to volunteer
If you can avoid it, DON’T take the lump sum payment. The 21-22% tax withholding is no joke.
Yes - Used to be a great company but this environment is s---ing the life out of me. I'm expecting to go in the next round. I will be relieved!
I would love to. I wish they would ask for volunteers to get RIF'd. It would make everyone's life much easier and they could cut cost on using consultants for who to RIF
Call in on the town hall next week and say what we are all thinking. I would love speak my mind.
I'm hoping for Dec or Jan. I would like to make it through the Holidays. Next week is pay week so there sure to be RIF's