First... looks like some posts and comments have been removed. Second. Can anyone else confirm that most, if not all, employees that have been RIFd beginning in August 2018 have been over 40? In my department, all rifd employees were over 40, most close to 50 and above. Hearing similar stories from other departments.
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I was just laid off and am approaching 60. Not right!
I was laid off in August. Five years of service with the company. I had just turned 40.
If it's proven that the layoffs were spread intentionally to avoid legal jeopardy, and they were, then the courts will not allow that defense in a class action against the company. I am actively looking elsewhere.
Yes, you are right. I got laid off in Aug and almost 99% of people who got laid off were over 40.
Yes. Laid off in October 2018 >45 with 5 years of service.
I can say with certainty, BD won't be here in 5 years
When the life/new business underwriting department had their RIF's in January and again in August, the majority of the individuals were aged 40+ (with a few younger aged individuals). Appears the plan is to exit experience staff and hire recent college graduates.
I remember Brian Dupperault stating in one of his town halls that AIG was to become a company where you "worked for 5 years with the company and then leave".... appears that's the direction the company is going towards. If you don't choose to leave, they'll show you the door.
Rumor is outsourcing anyway - i’ll stay until the bloody end for my package and bonus although I’m a grunt
Definitely trending older. Many acquaintances in their 50s and 60s included in the RIFs. Typical of most corporations in end-of-year cost savings mode. But quite unfortunate for those with tough job replacement prospects. And not just cost centers as referenced below. Starting to hit underwriting as well, proportional to the profitability to various UW divisions
Ending WFH makes no sense. They save money on that program and all of the other insurance companies are doing it now, so they would lose a lot of people.
WFH is officially ending in 2Q 2019. Lets see how long the college kids stay.
Yo B-rye let me hold a milli.
A number of IT folks were let go in NYC, many in senior roles, with more to come. So much for trying to invest in technology to keep pace with other companies. Seems like there's a trend that others have noted already - the ones let go tend to be older, experienced folks while the younger and less experienced are left to pick up the slack. Really sad in light of the fact that our CEO got paid 43M his first year w/o much to show for it.
They prefer to keep the college kids that don't do anything all day but talk on their phones, do fun projects and play ping pong all day.
Some of the posts and comments that I saw this weekend were removed. That's kind of strange
70plus (1)
60plus (6)
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40plus (7)
Most folks are over 40 and in cost center roles
Yes many posts removed...but why
I know some who were rifd in their 30s, 40s, and 50s. Some were only there for 5 years or less, some were over 10 years
I'm 32 and got RIFed at the end of last month. I was one of the longest-serving employees in my department, though...I believe they let me go because I was earning more than others in my department.
Yes most of the layoffs are with experienced employees in their 40 and last 50's. They are the most experienced and make a decent salary. They replace them with inexperienced and younger people with no experience. In a lot of cases people are not replaced at all. So you wonder who is doing all of the work they used to do. They are also laying off lots of workers in Europe as well. If you are not making money on the commercial side of the business what's really left of this company ?
Most are in their 40's and 50's. They were also long term employees. They may be trying to lay off long term employees due to higher salaries, etc.. Their loss. They are left with inexperienced staff who are unable to handle the workload.