People don’t share information. People don’t see a reason to give information out if it is to someone not in their tiny little in group. People joke about taking people to lunch just so they can get a little help. That’s insane. We’re in the same company and it’s sink or swim for all of us.
9 replies (most recent on top)
I wish I had more to say but I was just a small cog in the wheel and not privy to any internal mechanisms. I will say this, if you are over 50 your job is not secure. If the majority of your job can be handled by a shared services pool your job is not secure. Long term employees on Wall Street in general are being forced out. Look around your office, or the cafeteria. I guarantee all you will see left is 25-30 y/o's. They want young cheap short-term labor now. It is crucial to have a plan B. Wall Street died in 2008. It's sad but true.
Morale in IT is bad. They think outsourcing everything to India or Indians in the US is the solution to all ills. Flabbergasted at how out of date some systems are and haven't been replaced. I know many folks are looking now and if not riffed they will leave.once they find something. Management must think they're only going to lose those they decide to cut. I think they are in for a surprise.
This message board is the best source for AIG info.
Can anyone can find out how much the 100 year anniversary celebrations and rebranding will cost AIG next year? Because that is much more important than AIG's people! Ask Brian; the lay offs will continue but the c-suite is gonna party!!!!
Last person who posted must be wearing rose colored glasses. The Company is on a downward spiral and has been on one for quite some time now. We have abandoned some of our core business partners. They were forced to go elsewhere and the other companies are making profits. Where did we go wrong? Bad management. Poor underwriting choices. Disconnect between upper management and worker bees. Lay offs of valued, long term, employees. Our clients have suffered the consequences of poor management decisions.
Are you ladies and gentlemen suggesting that the company is in downward spiral? $450 B Assets and about $50B GPW being booked every year. This isn't 2008!
BD and PZ are changing everything because they are shareholders' agents and it's their job description.
If you don't like the culture or conditions, then change it. Else there are 9999 companies out there who are looking for people unless you're complacent/entitled/overpaid.
As big as AIG is and as long as they have been in business, these losses should have been predicted, as with any event in the insurance busines, there should be reserve. Losses will ALWAYS be there. Where is this "management" of such funds?? I can tell you where, BD's pockets along with all the rest of the higher mucky muck who do absolutely nothing for the pay they get. As for the original poster question, they only help themselves, unless you are one of their buddies. These people are called "managers that don't know how to manage" and should have been the first in the RIFs.
The catastrophic losses continue and as a result there will be more RIF's
It stemmed from the impact of huge catastrophe losses and low premium in the General Insurance as well as Life and Retirement segments. To make matters worst, the California fire is estimated to be somewhere between $10-12 billion in losses.