Operations. A few attorneys also for PA
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Yes Medical Management Services lost a Regional Director/Manager and SIU was hit. I heard other areas were hit but don't know specifics.
It's amazing the business we have lost and have decided not to write. I haven't seen much new business in 2018 and I haven't heard of a lot of business being written for 2019. I think there are still a lot more RIF's to come in 2019. How can you justify keeping employees when there is such a lack of new business?
AIG prefers the day before payday to do a RIF. All bets are off after BD's 800M loss prediction last Friday. This company is in survival mode. The Centennial next year won't be something to celebrate. I feel sorry for the employees awake all night worrying about their future. BD predicts a profit in the 1st Qtr. Yeah right, Without much if any new business being written? Here's a suggestion for AIG. You took a big hit this year in Paradise and Thousand Oaks. It will take 10 years for the area to become forested again. Why not advertise or send your people in and write new policies on new construction in an area extremely less likely to file a claim? To me, that would be risk aversion while other carriers are pulling out of CA. And you can still price your policies based on the 2018 losses without reinsurance. . I wish I was I a fly on the wall in the boardroom at 175 Water St, BD and the BOD have no backbone. I know AIG monitors this website.
Yes there were layoffs today and there will be more this week. Nice. Right before the Holidays.
Most companies don't rif 2 weeks before Christmas. AIG could care less. Ruining the lives of their employees in the name of profits says it all. 2019 won't be any better than this year. Maybe they should watch It's a Wonderful Life. The missing $ will never materialize and no one will bail them out this time either. This reminds me of March, 2009 all over again. Overpaying AIG executives while underpaying the remainder of their stressed out workforce isn't a formula for success.
I heard that there are going to still be more lay offs next week. I don't know how they can do this so close to the Holidays. I also heard that there will be more than previously planned lay offs in the first quarter of 2019
That was last week.