http://fortune.com/2019/02/25/most-overpaid-ceos/ Earlier post have mentioned this but reposting - not good press for AIG and BD- A sudden change of heart on the 2019 layoff is BS just reputation damage control by some company plant they’ll continue... — read more
How are age discrimination lawsuits gonna help the older people that were already laid off.
Even if the company was afraid of age discrimination lawsuits now which never seemed to bother them before how does that help all the older people they already laid off at 60 61 62 who now can't find work doesn't help them much it's like the thief... — read more
I was riffed and the count is approx 800
The RIFs are real and will continue for a while, till the clueless management are able to grow the bottom line, ie revenue. The company has no strategy to grow the bottom line, at least nothing that they can articulate to the employees. They continue... — read more
2019 Layoffs Cancelled
The expected massive layoffs won't happen on STI week or this year for that matter. For reasons unknown, the company changed their tune at the 11th hour. Maybe the hard working AIG employees will appreciate some good news.
Wtf
So now, since a function of our job is phones, we are told we can't get up from our chair if a lot of other people are already up..for the sake of the phones. Yet, nobody cares to look at a route solution...fix the f---ing option number hierarchy and... — read more
AIG is unable to grow, so, we need to get used to layoffs or just leave
That being said I understand how hard it is to just leave, but in a situation where there is no choice we need to find the strength to move on. The other choice is to stay and face an non-ending uncertainty that will follow us for the rest of our... — read more
Glassdoor
Nothing really to do with Layoffs...but Glassdoor.com regularly either hides or removes negative reviews about the company. Mine have been removed and I see more get removed almost weekly. Anyone have any idea on this? Like everyone knows AIG s---s... — read more
This is ridiculous
Attrition at our team has been really bad, we have people leaving all the time. But what's making the bad situation worse is the replacements we are getting - when we get them. These people have no idea how to do the job they were hired to do. They... — read more
Will AIG split the Life and P&C into Separate Companies
Is AIG preparing to split Life and P&C into separate companies?
STI updates anyone?
Seeing posts with estimates ranging from 50% to 95%. Has anyone actually received a firm number from their manager yet?
Any more layoffs for IT?
Does anybody know if John Repko announced in his town hall meeting (By the way, it only lasted less than 5 minutes) if there are more layoffs for IT across the board?
Any chance of a buyout happening?
It’s becoming clear that layoffs are not business as usual and that they aren’t gonna stop. Can the fact that they are trying to get rid of a bigger portion of the workforce make them reach a decision to perform a mass buyout, or at least a buyout... — read more
More layoffs
Eagle. Middle-market, Fin Lines, Lexington, Personal Lines (all PL companies). That is for starters. They have to cut, cut, cut. Above are division not writing any business and has a poor combined ratio. Good Bye! Is this just guessing or has some... — read more
Corp Culture
I hope all the folks cut get better roles and with a company whose culture cares about their people. AIG isn't alone in screwing over their FTEs so senior managers hit cost cutting targets so they get their golden parachutes. Several senior folks... — read more
AIG is slow to change
I agree that AIG is slow to change, a huge part of that is due to the continuous cyclical pattern that AIG has of hiring new leadership (doesn't matter the age) who come in making changes w/o taking enough time to utilize experienced talent. This is... — read more
In what areas does AIG plan to cut its workforce the most?
Any word on what parts of the company could be impacted the most, or is there at least some logic by which we can determine weather we’re safe or no? I imagine that parts that can be outsourced easily, could be the biggest hitting point.
Pointless
I was excited to start working here but all I've experienced is insecure, unskilled operations managers / employees who try to stonewall those who show an oz of ambition towards progressing in their respective careers. Yeah, some employees are nice... — read more
Has it started?
What's going on with layoffs? Any news?
Only people can save this company
The individual who posted about AIG’s older workforce inability to adapt to technology as being a culprit for the company’s failures is so uniformed, it is just sad. I do not know what task they perform but in the world I live in large casualty... — read more
RIF the "overpaid" CEO and the executives in the various units bleeding cash via overpay
..have to RIF....well then....RIF the "overpaid" CEO and the executives in the various units bleeding cash via overpay. Let underwriting underwrite and they (Execu) need to stop blaming them for poor underwriting...let's face it..the company has a... — read more
To what degree will AIG shrink?
I get that they need to save money wherever they can, but to what degree can the company afford to shrink, in terms of the worker headcount,before it won’t be able to operate normally? How much small do the leadership see AIG at this point?
Is it really happening on monday?
As monday approaches I’m getting really worried. Did anybody manage to confirm that monday is the day of massive layoffs. Would be good if someone had info from a reliable source, getting a little tired of rumors.
After layoffs in August, Oct, and Dec of 18 the big one (325) in US IT only hit on March 8, 2019.
Very talented people are on the street today. Kicked to the curb by an incompetent management team and vile Leadership team who sees their future offshore. With hundreds of floundering applications and blind stupidity the company is being... — read more
Bonus
I just want to be around until the bonus is paid out. After that, arrivederci...
When a company restructures almost every other year...
...it's a huge sign of poor management and rampant nepotism. Every time a new crop of leaders come in, they bring a lot a bunch of their friends who are hired not because of their abilities or experience, but because they just happen to be buddies... — read more
AIG To Be Acquired
AIG will be broken up this year. Past layoffs were about efficiency. This round is about positioning (for sales). Note that McKinsey’s huge engagement has been quietly shuddered. No more $100m transformation. Now it’s time to put GI on the block in... — read more
Next week's Layoffs
Will the oversea's layoffs happen on Monday or Tuesday?
Make no mistake, this is outsourcing and offshoring at its best...
RIF'd... miffed, yet all the signs were there. Most of us just wanted to hang-on until the Bonuses were to be paid out. Not everyone got them depending upon if it was in their FTE contract... The metaphor is simple... "Alice in Wonderland"... Top... — read more
Is it true that mostly older employees are targeted?
From what I’ve seen at my location a majority of the affected folks were over 40 and had been with the company for quite some time. Is it the same at other locations and if it is, how is it possible that they can do this, and escape being sued?
#1 highest paid insurance ceo
https://www.businessinsurance.com/article/20180606/PHOTOS/912321831/Insurer-pay-AIG-Duperreault-Liberty-Long-Chubb-Greenberg-Travelers-Schnitzer-Har
Severance info
Basically, they pay you out for the remainder of the week and then give you two weeks short notice pay and paid for un-used PTO. After that you can opt to take the 2 week/yr payout (52 wk max) as a lump sum or have it paid bi-weekly as regular pay... — read more
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I'm glad I actually found this site. I'm not working in America so I wouldn't understand the full layoffs or what the heck is going on. But they're are cutting a lot of people within AIG.. I'm in IT and I heard these rumors last month, directly from... — read more
Severance?
Is it the usual or have there been some changes? I'd really appreciate an answer, just to be ready in case this thing is still not over and my name comes up.
No media coverage of AIG layoffs?
As far as I can see, this goes well beyond the standard “a few here, a few there” layoffs, but I can’t say that I’ve seen that they have been reported anywhere in the media. Are the journalists that interested in stuff like this?
What's going on today?
There was talk about more layoffs in Operations - is it happening? Anything else being hit?
Karma is a...
Layoffs are always sad as generally a lot of people who do the actual work get the axe, in this case though there were some senior managers and global heads in IT who were ruthlessly cutting people for the last one year, got the axe themselves.
First Lay-off of 2019
Following a massive layoff in December following a massive layoff in october...