Is it true we'll see more layoffs this year? I've been hearing from a few coworkers on that possibility, but there's been nothing concrete, just speculation.
I think it would be really cruel to lay people off so close to Christmas, but this is AIG so nothing would surprise me.
More RIF's occurred today. They are going to stop for a long time.
There were more RIF's today
Yes. There were RIF's this morning. This is a pay week so expect more.
Yes of course there is going to be more this year. We aren't writing business, we have more losses, and stock is going down.
Anybody remember the ZZ Domestic email from Senior Management in 2009 complaining to the employees about their executive compensation? Expect a RIF on 11/30/18. AIG is spiraling downward and hasn't figured out their employees are their most valuable asset. NY is probably monitoring this website. The last straw may have been the California Wildfires. Many A- Listers in Malibu are covered by the company. Reinsurance cuts the loss but million dollar mansions add up. After 2017, why did they renew the policies?
They have done this many times in the past. They do not care about Christmas.
Don't worry though, the senior leadership's comp packages won't be affected. In fact, they hit the lottery if they are riffed. I heard someone may publish the comp of senior leadership online so we can all see how well they do while the minions suffer. The CIO brought in has ZERO insurance industry background. I guess being friends with BD matters more than being qualified.
Why cruel? Its the best thing to happen.
Take it as a liberating event. Spend time with family and get paid (severance package).
Make a new year resolution and land a job in weeks after that as hiring peaks in Q1.
Don’t forget Hanukkah
They have done it in the past so why would this year be any different?