They basically have the Kmart/Sears strategy. Sell off businesses, buy some time, buy company tied to BD that was not vetted well as to value proposition.
Wouldn't be surprised if another Icahn comes in and demands they look for a buyer. Lots of skeletons in their financials too, I bet.
It's overly obvious at this point it's a situation where management is attempting to protect themselves. Falsifying data of the employee in order to not be viewed as the poor leader who makes bad choices is a new way of life. Personal accountability and high standards of management is a thing of the past. Welcome to the new AIG reality. Happy 100 years!!!!
RIF's are not done for this year. They have been going on all week. Even while they paint a pretty picture on the town hall webcast today.
All areas agre getting hit big again. Fact.
we were told the RIFs "were done" for GI this year in conf call last week, but i would not hold my breath. Like someone else said the guillotine went for a routine maintenance
Oh yes, they have continued this week and aren't over for December yet.
Yahoo Finance had an article on AIG. This is their analysis: (Ouch)
Moreover, the company’s revenues have been declining since 2013 due to competitive market conditions and a reduction in business due to numerous divestitures undertaken. This momentum persisted in the first nine months of 2018, mainly because of challenges in the property and casualty market and continued business dispositions will keep the top line under pressure in the coming quarters.
The company’s earnings have substantially missed estimates over the last five reported quarters, which remains an uninviting proposition for investors.
One was in MMS
What location or group?
There were RIF's this morning.
Watch out for Thursday AM(12/13).
They need the staff that's left to cover for vacations...then the blood letting will continue in January. ....Happy Holidays folks!
why not?