I recently heard that IBM is in trouble for targeting and laying off too many older employees. I think AIG did pretty much the same damn thing and someone should hold them accountable. My friend’s job was eliminated and the HR department told her she was classified as retired, but that’s a lie!
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Yes they have targeted older employees. They may throw in a younger person here and there but they go after older employees. Yet BD is much older and a lot of his buddies that he brought with him are.
I'm an over 60 RIF'd individual. No one mentioned "early retirement" to me. It was simply stated as a reduction in force. Checking my Severance and Release Agreement, it states I waived "all claims of any kind that I may have against the company", etc. The last sentence in that paragraph states "I acknowledge that I am not waiving the right to claims under the Age Discrimination in Employment Act that may arise after the date that I execute this agreement."
Yes, older folks are getting RIF'd left and right except for BD and his buddies. They keep hiring Senior Managegment and letting go of low level employees. Then they hire McKinsey to do their work. They are robbing AIG. It doesn't take much to see what is going on and how top heavy this company is getting. They certainly don't care because they are already taken care of whether they stay or they go. They will make out money wise. So sad that this company has been further taken advantage of while the board is in la la land
yeah, they can lay off the "older" employees....we are the only ones that know how to maneuver around the AIG departments and hierarchy. GOOD LUCK!!!
Maybe AIG 100 really means how many will be shown the door every couple of months?
BTW, RIF'd at age 54. Spring 2019.
Let's focus on the Earning report and getting the stock up to $60
I got RIF'd at age 56. They do provide a list of all employees getting RIF'd along with you, carefully sculpted so that all categories of ages are represented. I noticed that right away. Done so that no age group appears to be overly targeted. And yes, you must sign waiver to obtain the severance package.
Also: RIF's are done in many many small chunks, to avoid a large one time wave. If you go over a certain # of employees getting RIF'd, you have to report it publicly, so that's why there are so many disjointed RIF's, appearing "randomly" ... you make sure you have all age group categories repped and do it in small #'s.... no public announcement needs to be made. It's all quiet and under the radar.
I am not sure one would be able to leverage a lawsuit for age discrimination. AIG attny's have learned from the mistakes of others and know how to work the angles.
When you are RIF'd 2 things happen. 1. you are given a report that provides a list of positions along with ages of people who were both kept (as an employee) and who's positions were eliminated. 2. You are asked to sign a waiver which prevents you from coming back and suing. So its a difficult task if you sign that waiver and I bet most do. I "believe" the waiver is required to receive your severance package.
I was rif'd at 55. Took me 8 years to find a job. AIG targets older workers unless they need them. AIG has set themselves up for poor morale and workers who won't bend over backwards for them. Great recipe for the future. This company is worthless.
I was one of the employees that was laid off at 60 years old. They do target the older workers and was told was a early retirement.
Decade or 2 ago mcdonald Douglas (now boeing) laid off mostly older workers. After the layoff there was lawsuit and mcdonald Douglas did have to pay out. If anyone wants to know if layoff legal go to state labor board or attorney may review.
Most of the older rif casualties take their package (I’ve worked with MANY of them in claims). So the odds of some big suit are minimal.
Yes it certainly seems that they have RIF'd a lot of folks that are older. Shame on them.