Thread regarding AIG (American Intl Group Inc.) layoffs

Annual Report

All the execs got close to 200% STI. Did you?

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Post ID: @OP+14uxkzZW

18 replies (most recent on top)

I totally agree with Post ID: @2cyz+14uxkzZW. I won't leave but will wait to get furloughed or RIF'd. I want my severance, after everything else they have taken from us, I feel I deserve this.

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Post ID: @8phd+14uxkzZW

I won't voluntarily leave but won't oppose getting laid off or furloughed. Actually would love to get furloughed... the unemployment benefits are amazing these days :)

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Post ID: @8nqz+14uxkzZW

You mean the L&R exec? Yes, he is not part of new regime, so they probably are screwing him so he leaves...

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Post ID: @5axv+14uxkzZW

the exec who runs the financial planning division should be really upset. he is the only one who actually makes money for the company and he got the least sti. he is clearly not part of the good old boy club at the top of aig. he will move on soon or be pushed out so a crony can step in.

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Post ID: @5yeb+14uxkzZW

under 100% too (after accomplishing so much), asked for explanation from manager and they got defensive and said others did not get a bonus so I should be thankful kinda attitude. Actively searching for a new job.

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Post ID: @4mhw+14uxkzZW

it is surprising to me how many people have resigned since sti payment even in the midst of this crisis. had covid19 not occurred, a mass departing probably would have happened so I agree the crisis probably stabilized the aig talent pool for a short while. when the job market opens up watch out.

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Post ID: @3haa+14uxkzZW

lol to the last post, how do you explain the last 3 years of failures from this management team before the coronavirus outbreak? it was years filled with disappointing earnings and the hiring of friends to high paying exec rolls while riffing or forcing out anyone that wasn't your buddy. We lost an awful lot of talent. There was a 3 year promise to turn aig around when this regime took over. No one talks about that anymore. Now 3 years later, the stock is in the tank, and was in the tank before the virus, and the current regime is now saying it will be another 3 years and $1.3B to turn around AIG. AIG 200 is nothing more than the execs buying 3 more years to loot the company.

This regime has been a total failure to this point. The basic plan over the last 3 years has been reinsure everything and rif as many veteran employees as possible while spending loads of money on consultants, exec salaries and bonuses.

The last good leader we had was the guy that paid the government back (we all know his name). And I'm sure there are plenty of competent CEOs out there who would want to work for a company where you can achieve virtually nothing and still receive 200% of your bonus. if this regime cared about employees it would be forgoing salaries to help them like other good ceos are doing. instead they offer a quick $500 and no lay offs until this is over. Sounds great right, its really just to keep the eyes off of their lofty bonuses. The media would have a field day with this. Instead AIG is paying reporters to write fluff stories about turning this company around.

The virus has given this regime a great excuse to underperform for another year. Agree with a prior post to get out as quickly as you can. Rifs are coming as soon as it is politically acceptable to do so, you can bank on that. New customer accounts are in the tank and wall street smells a rat.

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Post ID: @2kbs+14uxkzZW

Management has to manage this company in difficult time. They are working on improving systems, products, communication, teamwork and just a great place to work. Not many people would like to have this job during these time. Money well spent!

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Post ID: @2rkk+14uxkzZW

The China virus may be the only thing helping to keep AIG moving as talented people that would have been leaving to other companies probably can’t now. They won’t be able to save it from terrible leadership though...

If the leadership gets 200% STI yet most of the workers get 100% give or take 10%, what does that tell you? The metrics to measure them should be the same metrics for everyone for the most part.

Workers need to leave when you can before they RIF you so they can keep getting g 200% payouts. While the workers are lucky to get 100% of target.

Investors should invest invest in companies with good leadership in my opinion. This company doesn’t have even mediocre leadership. Mediocre leadership would actually be a good thing at this point.

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Post ID: @2cyz+14uxkzZW

Unbelievable! I thought this was a bogus comment as well until I looked it up. Only AIG pays top dollar for execs to run the company into the ground. Stock down 60% from 52 week highs and down the most amongst our competition since the covid19 outbreak. I know some really good people who got nickle and dimed on their sti due to politics this year. it is sad to take a few hundred from pay grades below 20 to give to execs making $6M. Welcome to AIG. Some things never change. Break it up.

https://www.aig.com/content/dam/aig/america-canada/us/documents/investor-relations/2020/aig-2020-proxy-statement.pdf

page 44

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Post ID: @1pln+14uxkzZW

They need to go on the show American Greed.. What they're doing to the employees and saving themselves is ridic.

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Post ID: @1ppx+14uxkzZW

Reading the thread looks like executes are suiting up to jump regardless if the plane has a pilot - maybe not but sure does look that way.

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Post ID: @1djb+14uxkzZW

Does this surprise any of you if you've worked long for this company? Glad I left. By the way? RiFs are on hold until the crisis passes, but they're wanting to do it this year. Some things never change.

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Post ID: @1asa+14uxkzZW

I thought it was a joke... but just checked the proxy statement. PZ got 200% STI and BD got 185%... 6 Million dollars each... they could have paid lot of people with that money.. Real shame

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Post ID: @1car+14uxkzZW

115%

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Post ID: @flc+14uxkzZW

My team got around 100% which is the most we have gotten in years.

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Post ID: @rnj+14uxkzZW

No got 80% and worked lots of extra hours and delivered more than most years more fool me. They know judge you on performance of teams offshore you have little control over. I guess below g24 grades needed to find the 200%

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Post ID: @aqz+14uxkzZW

They are screwing the employees while looting the company.

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Post ID: @jip+14uxkzZW

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