Thread regarding AIG (American Intl Group Inc.) layoffs

NYC FIFO

Joined AIG less than a year ago and didn't make it that long. In fact, most hired in the last year (in CRS) were RIF'd last week.

Note to others: Don't take a new role in a new dept with any hopes of surviving. Cause when there's no budget to actually carry out BD's speak of 'investing in technology and the future', there's no need to hire new blood to support initiatives that will never come to fruition.

My last firms I tenured several years at each. It took AIG 6 months to hire me and < year to lay me off. I can honestly say I enjoyed my manager, my colleagues and the work, so of course it was too good to be true. Yet the Fat Cat announcements came rolling in every week with news of a new 'friend' of the CEO getting hired. Corp Comm laid these messages on THICK. It wouldn't surprise me if those exec salaries totaled $100M+ combined. Can you imagine what good that money could've done to invest in moving the company into the 21st century? Instead, those funds are paying 10 very special executives (who are no doubt under contract)... to do what exactly?

Infrastructure crumbles, new clients are scarce and the top heavy ranks discuss growth? You can't grow without new projects to invest in, you can't support new projects without worker bees to manage them... but let's waste everyone's time by playing 'test and learn' with 'at will' new hires while those under contract are hired, then moved around to navigate a sinking ship. No one wins.

I never did feel proud telling people I moved to AIG and now I know why.

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| 1918 views | | 6 replies (last September 27, 2018) | Reply
Post ID: @OP+Vi296Tq

6 replies (most recent on top)

Agree @Vi296Tq-4esa. Any bonus we get is a write off. They should give raises because it counts towards SS. Also C executives should be held accountable and their pay should be performanced based like the worker bees and if they do poorly they should get let go.

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Post ID: @4fgt+Vi296Tq

It's true, I've been here for years and have experienced so much dysfunction that it makes me cringe and not proud to admit where I work. The only good thing here are the benefits and the hope that if you survive long enough, there will be plenty of opportunities that open up. Honestly though, when the company pay c-suite executives who are not even the CEO 10-15M per year regardless of how they perform it's no wonder there are no crumbs left for us peons who are refused raises year after year!

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Post ID: @4esa+Vi296Tq

Exactly same situation to me as well. Even i belong CRS Team India, with having proper strategic planning they are just hiring and finally end up saying management wants to close down the positions.

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Post ID: @2duf+Vi296Tq

Yes, it is a shame. Not a company of the future. And very good at maintaining chaos forever.

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Post ID: @bcn+Vi296Tq

You are right. More to come what a shame

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Post ID: @yst+Vi296Tq

Very true

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Post ID: @mez+Vi296Tq

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