Thread regarding AIG (American Intl Group Inc.) layoffs

Layoff A reality finally

Straight talk layoff confirmed after STI. Employees to be chased like forest animals and laid off like buffalo herds. Management had planned this nicely keeping hands on old employees to through performance appraisals cutting the money through low or no STI and letting go like a cheap dirt.

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| 2590 views | | 19 replies (last March 2)
Post ID: @OP+1r7Ev5ay

19 replies (most recent on top)

As long as ELT gets paid, all is good, right? Read the 10k report and you get to see how overpaid leadership is. And they’re too self absorbed to know what’s really going on.

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Post ID: @eanr+1r7Ev5ay

For folks with no game plan aside from AIG to earn a living, this should be yet another wake up call. Develop your network of contacts. Invest in yourself and learn new skills. Peter and friends want to cut several hundred million in spend from the company. Most of us are at risk whether we like it or not.
Just wait for the folks who leave after STI, especially in technology. That, plus not filling open roles and expecting the remainder to pick up slack will drive more to leave. Newsflash: if you are good at your job, build your networks and are vigilant, then you can find a better company than AIG.

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Post ID: @8dph+1r7Ev5ay

5jgy+1r7Ev5ay

Yes. The rating curve model assumes a percentage of entry level and new hire and movement into new jobs.

When the percentage of employees is so low there are no entry level jobs and very few situations where there are multiple people in the same grade doing the same role the curve is a problem.

There are absolutely situations where people met goals but are down rated to hit a number.

The rationale being they didn't exceed their goals.

Everyone now has an unstated nebulous goal to exceed goals.

If you don't exceed goals you are at risk to partially meet goals.

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Post ID: @5fzz+1r7Ev5ay

@4szv+1r7Ev5ay talk about overgeneralization… executives don’t sit around making decisions to “justify their salaries.” Yes, they get paid a lot and when the company has a good year they benefit way more than the rest of us. But they are accountable for the company performance, and if policy holders and brokers are as unhappy and outraged as you claim with the new Accenture reality, then they will take their business elsewhere and AIG results will suffer. Based on the latest annual report, perhaps things are not as dire are you are making them out to be.

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Post ID: @5haj+1r7Ev5ay

For those posting about ratings — it is absolutely a standard practice in corporate America for companies to have guidelines on rating distribution. Managers have to make tough decisions in assessing people’s performance and often they have to look at relative performance of the entire team. There is nothing underhanded in that. If managers don’t do what they are supposed to in setting goals and evaluating performance then they should expect to be asked to make changes. Sure, it’s easier for managers to say they would have rated you higher but management made them change it, but that’s disingenuous. If you really had a great year, you would be rated that way. After all, they did give other people those high ratings. Shame on those managers who gossip about it and don’t take accountability for their ultimate decisions. That shows their lack of leadership skills.

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Post ID: @5jgy+1r7Ev5ay

@4khg+1r7Ev5ay not quite the case on the bad ratings. What someone said earlier about the rating curve is true, my VP made our department rework our ratings to fall within the curve this year because we had too many exceeds expectations, and either needed to bring most of them down to fully met or a couple to needs improvement. Not sure on the final results for our group, but that was a slap in the face for everyone involved.

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Post ID: @5bqn+1r7Ev5ay

I see many of you really hate AIG, but really it depends on your department head, if the upper boss is a jerk, It will affect everyone down the ladder till the bottom. My manager is wonderful, his manager is wonderful, and his manager is decent, I'm honestly happy. Of course there were some up and down during the years (and there will be in the future), I also risked to be a layoff 10+ years ago when they started opening branches where the labour was cheaper (all these branches were either closed or sold to accenture by now), but I'm slowing climbing my way up in my department. Sometime working hard isn't enough naturally, but if they consider you a valuable employee it's likely that even if they have to suppress your role, they'll find a spot to "park" you and save you, because your managers in the end need other people to do the actual work, and trustworthy workers are a minority. So do your best and don't act as if the Company is in debt with you... And if you end up in a sh---y department with a sh---y boss you can either wait and resist the storm or change job... During the years I have seen many people leaving for some small salary increase because there was no space for them to grow in AIG only to endup in the same situation in another Company (and sometimes grow opportuinities showed up after a while just for the benefit of who had remained!)

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Post ID: @5nfm+1r7Ev5ay

@4khg+1r7Ev5ay you are incorrect about all bad ratings being deserved.

Managers are forced to a curve on ratings.

The model the curve is based on fits an employee organization with entry level roles and lots of opportunity to move laterally or vertically.

That model doesn't fit all parts of the organization yet the same curve is forced.

In some cases the manager rating is overridden at a higher level purely to balance the numbers.

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Post ID: @4sxm+1r7Ev5ay

@4khg+1r7Ev5ay, your comment is true.

It is also an overgeneralization, dismissive, and dehumanizing.

Perhaps you want to gaslight us "lowly" employees who see the damage Accenture's "service" is doing our relationships with major commercial policyholders, brokers and producers, and account managers who have been outraged by the drop in service since January 1 2022, into believing its our fault that the SERVICE NOW bot has failed so miserably? All so C-suite can continue ignoring the reality of evidence that's been documented and presented to them many times?

Do enlighten us.

What presumed skill do you think would ameliorate that? You also presume we are all unskilled and inflexible about upskilling, which is patently false.

It's true change is the only Constant, and employees should always strive to stay up-to-date on skill sets, but you don't get to make light of, or disparage others reality as they are experiencing it.

All of us know by this stage, life is not fair.
But it sure appears like AIG executives care more for justifying their own exorbitant salaries, bonuses, and shareholder dividends, at the expense of, ultimately, service to clients whose premiums paid are the lifeblood of the Company and make those very things possible.

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Post ID: @4szv+1r7Ev5ay

Reading through comments and it’s clear that all of the gloom and doom conspiracy theory fans are just posting straight nonsense. Layoffs happen in every company in every industry. Managers are not sitting around looking for ways to sc--w you over. If you got a bad rating, then you most likely deserved it, perhaps because you spent more time slacking off and complaining than working. If you got a low bonus, then you had a bad rating. No need to advertise that. And if Accenture is taking over your job, then it’s time to get new skills, because AIG is no different from every other company out there that has shareholders to answer to.

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Post ID: @4khg+1r7Ev5ay

If you say you are from this company the first thing the interviewer asks are you still employed with the company and you say yes they ask why do you want to leave. Very difficult to get a job outside if you work in this company

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Post ID: @4wnz+1r7Ev5ay

The Accenture core taking over AIG and it's subs has been going on for some time now. Do you want to know how this will work out? Go look at the Accenture layoff comments on this site. They will be the new overlord. This will continue to get worse for any US employee that survives. Best thing to do is get out of this mess. I am trying daily.

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Post ID: @2snn+1r7Ev5ay

Is the situation that bad with this company and the spin off. Seeing a lot of negative posts and management playing their trump card with the employees through the mid-level managers. Will things even change.

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Post ID: @2khb+1r7Ev5ay

To the original poster, sincere condolesces. I have been layed off before and it ended up being a nightmare scenario and I swore I'd never get myself on the redundunt list for layoffs ever again. But it turns out no matter how hard you work, even if you have been a top performer every year of employment with AIG, if they want to get rid of you, they will find a reason. If they cherry picked and mischaracterized facts in your review to put you on the list to layoff, I'd find a good employment attorney. Apparently lots of people are doing this already, which does not bode well for AIG or Accenture.

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Post ID: @2nyl+1r7Ev5ay

Nothing new and no need for the usual drama try to be sensible to people and get a life this type of message has been posted in the past probably by the same person

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Post ID: @1brl+1r7Ev5ay

Why the drama? Yes, we are all expendable widgets to any company we work for. This isn't new.

Layoffs have occurred here every year for over 15 years. Often massive in scale. They happened before that as needed.

Are they big here this year? We will see. They are happening in most industries.

This is standard procedure everywhere for outsourcing, expense reductions and divestitures.

If you are just noticing you must be new to the company or new to the workforce. If you are trolling then remember when karma comes to call.

It is stressful and difficult to go through but is more the norm than not. Work long enough and you will be part of one if not multiple layoffs.

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Post ID: @1xjr+1r7Ev5ay

Hello in my branch in Europe there are no rumors of layoffs, nor they are decreasing STI pool. On the contrary they actually put some penny to increase salaries

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Post ID: @1vgp+1r7Ev5ay

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