Thread regarding AIG (American Intl Group Inc.) layoffs

Lousy management

What's the deal with putting all the wrong people in management positions? People who can't manage themselves, let alone anybody else?

Also, why would they pay higher rate to people from the outside they bring in for managerial position when there are so many better qualified people with more experience and knowledge within the company?

Those people won't stay here forever if they keep getting passed over for promotions, that's for sure. We are losing some of our best employees to attrition, and that will only continue in the future.

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Post ID: @OP+VLVo57X

12 replies (most recent on top)

With the type of management and direction this company is going, I am looking forward to getting RIF'd and start another journey.

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Post ID: @3skn+VLVo57X

Mostly from tiaa

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Post ID: @3rrc+VLVo57X

Stock Price go es to $42.50. Nice Job Executives. Earning report at the end of Oct. It will be poor. They am be buying stock back at that point. I do not think they will buy any more companies until they determine what they plan to keep. WoW! very sad story!

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Post ID: @2mdk+VLVo57X

Can't read full WSJ; no subscription. What is the general idea pre/post freeze? Not sure I understand what this means. Thanks!

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Post ID: @2erq+VLVo57X

It was the pension that was stopped.

https://www.wsj.com/articles/aig-to-freeze-traditional-pension-plan-1441298068

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Post ID: @2lne+VLVo57X

I am a former employee (RIF). What does the poster mean when they say "they froze the retirement two years ago as well?". The 401k?

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Post ID: @1rnf+VLVo57X

Consultants were laid off from pricing, so they are not immune either. IT had huge hits a month ago. Depending on the consultant host company, they may not have to worry though.

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Post ID: @1ppz+VLVo57X

Well the stock is way down, people's morale is down and rumor has it then will do away with the STI bonuses as well. They do not give raises and they froze the retirement two years ago as well. The only thing that goes up is all the executive salaries and their bonuses. Do you wonder why this company is doing this bad.

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Post ID: @vcw+VLVo57X

Accountability - in US mega-companies? You must be smoking something, bud. It took them one year at GE to realize that. This is AIG.

Insurance companies are data-dependent. Show one good data program. Modeling teams are RIFed. Underwriting teams are RIFed. What's staying are management consultants, software vendors and IT vendors. They seem to know more about the company than the employees.

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Post ID: @wxf+VLVo57X

impressive result - stock down 30% since bd started. During the same period, s&p went UP 13%. Where is the accountability?

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Post ID: @nyt+VLVo57X

New lows ($45.50) on the stock signalling a countdown for senior execs is coming. However, they will run it down just like PDH did.

Talent is volunteering for layoff while they have other offers as STIs may not be awarded in March 2019.

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Post ID: @fup+VLVo57X

Story old as time. It’s not what you know, it’s who you know.

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Post ID: @pnn+VLVo57X

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