AIG (American Intl Group Inc.) Layoffs

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Topics regarding layoffs at AIG (American Intl Group Inc.)

Update?

new layoffs must have been announced as a couple of former colleagues still at AIG reached out to me this week after a long spell.
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Continuous layoffs

layoffs have been going on (continually) in Finance. Kept very quiet. I do expect layoffs in Q1 2018 given our latest quarterly results. Layoff people earlier in the year so you don't have to give them a full bonus for the year. There's little doubt... read more
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835 views | no replies

AIG-Clearwater Spells Doom for NY/NJ/Wilton Investment Tech

The AIG-Clearwater deal spells doom for most ex-Wilton NY IT workers. The idea is to outsource the mess that Wilton executives were originally tasked with fixing (but instead they just inflated the mess.) The BPO deal will mean hundreds of cuts... read more
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Vendor issues

/ HCL and cognizant (both heavily in AIG) are being sued for hundreds of millions for their "work. After these companies sue... read more
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584 views | 3 replies (last )

AIG Layoffs 2018

I want to let you know that people are anxious and tense as they expect layoffs in corporate in NYC.
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1622 views | 4 replies (last )

Shakeup in Technology

I hear the Technology groups will have a broad scale shake up in the coming days. Anyone have any details?
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862 views | 5 replies (last )

Rob Schimek going out the door

Anyone hear how the changes being made regarding Commercial and Personal insurance as being General Insurance is going to affect AIG? Is this change good or bad for the company?
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AIG has no concept of business operations

If AIG customers knew what is going on in AIG, they would definitely question why they and their families are insured through a third-rate company, one which treats it's own employees like **** and has no concept of business operations. No one should... read more
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963 views | 3 replies (last )

Company focus

Hearing that company wanting to get rid of as many employees over age 40 as possible, anyway as wants younger staff hoping to stay current
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1490 views | 11 replies (last )

Claims

Trying to force people to retire, also trying to fire as many people as possible. Hearing they are selling off workers compensation.
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Change fatigue

Do not expect much organizational change in 17. The dip in morale is being attributed to excessive management churn and current manage is using this excuse to defend staying put. It's unfortunate, because the new middle management of levels 5-6... read more
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1002 views | 1 reply ()

BAAAAAAAAD NEWS

Sad news. Regrettably, mismanagement is the norm rather than the exception in modern business. GM, Ford, Chrysler, Bear Sterns, Bethlehem Steel and a whole boat load of other industry giants mismanaged themselves to the very brink of bankruptcy or... read more
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731 views | no replies

Housecleaning at the Top

Look for some significant house cleaning at the very top management levels...Those closest to the former CEO are the most likely to find new employment options... The new CEO's focus and direction will resonate with many stakeholders.
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692 views | 2 replies (last )

P & C subrogation got hit back in June.

Heard P & C subrogation got hit back in June. Folks that were laid off got a 6 weeks notice. Anyhow, the final separation took place at the end of the month (July 2017). Not sure if there will be more cuts - there were rumors about this for a while... read more
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755 views | 2 replies (last )

July layoffs

senior people being let go today in NY.
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1017 views | 2 replies (last )

10 years of constant layoffs

The company is so bad, people are so sick of it, of all layoffs. It's bad for AIG, for shareholders and above all employees. Customers feel it too. Why so many layoffs? For 10 years we endured several layoffs every year, I am surprised that people... read more
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1069 views | no replies

RUMOR - July 2017 Layoffs at AIG

They never announce layoffs. It's all done quietly and quickly. There is no formal period for staff to know their job is at risk, they just get told to go. Friends and colleagues only find out when they see an empty desk. Some local managers do give... read more
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2425 views | 7 replies (last )

AIG - No mass layoffs

AIG has been "thinning the herd" with small layoffs, not any mass layoffs (although there was a good number laid off in May) so it's under the radar. It's bizarre that the press and the analysts who cover AIG have not commented on the loss of all... read more
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1280 views | 2 replies (last )

Next Round of layoffs

Does anyone know when the next round of layoffs is coming? Seems to be too quiet. Wondering if it will be with management first. It's the middle of the year and layoffs were to continue through 2017 and I haven't hear of any recent ones?
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1418 views | 3 replies (last )

There are so many layers of upper management at AIG

I was laid off a year and a half ago. Morale was terrible then. It was a horrible last few years. I stuck around for the severance (as most people do). I am glad I am no longer associated with that miserable place. There are so many layers of upper... read more
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1884 views | 5 replies (last )

Not a good sign

John Paulson’s hedge fund firm reduced its American International Group Inc. stake by more than 4 million shares in the fourth quarter.
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997 views | 2 replies (last )

AIG's Glory Days Are Over

As a former employee of 10 years it is sad to say AIG has fallen from its prior glory days. Even as AIG focus was on cost containment and savings Was a priority, the human element was lost. I know first hand as I was able to save AIG over $ 1 million... read more
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1306 views | 1 reply ()

Thanks for info

Appreciate all who provide insight into the organization that otherwise wouldn't be known. Was wondering why it was lower than the 100 percent cited by Hancock in his final town hall
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STI pool shorted

Short term incentive bonuses for 2016 not fully funded to cover 2017 budget shortfalls...
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1127 views | 1 reply ()

Split

The new CEO will be an advocate for splitting. Each new company will stand up their own shared services model and IT. Left out in the cold will be those not closely aligned to and directly supporting a business line.
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1330 views | 6 replies (last )

There is Hope

Now that a new CEO is forthcoming, there is a chance that further RIFS/layoffs will be put "on hold". There are analysts and investment firms that want to see AIG investing in TRUE insurance and underwriting talent again. Some believe it's the only... read more
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1488 views | 2 replies (last )

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