Thread regarding AIG (American Intl Group Inc.) layoffs

They constantly have layoffs and lie to the employees about what is going on

So many people tout how great AIG was "in the day" - I'm sorry, I don't see it. Riding high it seems so wonderful and yet they failed and needed a government bail out...okay, I've heard all the arguments - it was just a small group bla bla bla...whatever! It tanked. They constantly have layoffs and lie to the employees about what is going on..shattering so many folks and their careers. Whats the difference between this and ENRON and all the other big corporate failures on wall street. Nothing. Who suffers - the worker bee. Period. AND to outsource everything all the while looking like the good Samaritan (hacking bad reviews from glassdoor for one). Beware of smiling faces. Wall Street Hacks with millions - I crack up every time I read that BD received 20+ million in 2018 down from the 43 million he got his first year. So what!!! - spin spin spin - to make him sound like a good Samaritan..they should have never paid him 43million - but lets layoff, outsource, and sell.

Bumped this from @VT1whrW-2Gfkk for being on-point.

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Post ID: @YA97kWy

7 replies (most recent on top)

Agree. But why was AIG the only insurance company needing a bail out during the crisis? Because they were in too many endeavors not related to insurance. BTW another post cites a recent purchase of two jets. I don’t know if it’s fake news or not but if not.. wow!

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Post ID: @YA97kWy-3mkj

Yes, AIG WAS great "in the day". I bled dark blue and light blue for over 20 years and was recently RIFd. PJH undid all the good work BB did to restore the company and he had to fight for his salary of $8M. The newbies - people hired since staff started getting RIFd, don't understand that AIG paid off 100% on the dollar for all the claims against the big banks (Chase, Goldman, etc) and mortgage companies (Countrywide, Wells Fargo etc) who sold the mortgage backed securities, they caused the collapse of the economy, AIG just paid out so this can't be compared to Enron. Surprised people realize it's the BOARD (and their salaries) who should be replaced since they approve everything that's going on? Get new people who actually care about the company instead of getting fat paychecks to attend a monthly meeting.

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Post ID: @YA97kWy-3jgo

It astounds me that folks dislike the comment that the CEO is the Captin of the ship! So these folks don’t hold the CEO accountable of the firm but yet allow him to be paid millions? Wow now that’s a big head scratcher!!! Riddle me this Batman... who pays CEO millions and not hold him accountable for the company performance????

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Post ID: @YA97kWy-2llu

“Was” a great company? https://www.justice.org/news/insurance-company-tactics-add-americans-financial-hardships

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Post ID: @YA97kWy-1hft

The CEO is the Captin of the ship.

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Post ID: @YA97kWy-1gtn

AIG was a great company. no one can doubt it. Even today the brand AIG is helping some country sell insurance. But to what end? I am afraid soon people will find out the reality. AIG is passe, in the country where AIG was once the #1 insurer, now its no longer the same anymore. And co-icidentally i have the data of the policy take ups and i can see a downward trend.

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Post ID: @YA97kWy-1mry

Not every company is as bad as AIG. Now is the time to get out before you are RIF'D. We all know about the government bailout and the bonuses paid to the same execs that were responsible for the really bad decisions. May 13th is the day to watch. Will AIG turn a profit after all the layoffs? Answer that question and you will make a windfall in AIG stock. I haven't heard any AIG lies coming from 175 Water St lately. A few layoffs here and overseas but nothing like earlier this year or in 2018. I'm not a fan of AIG either. If you are as miserable as I was working for this company. you have a choice, worry about your future or try something else.

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Post ID: @YA97kWy-1fon

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