Thread regarding AIG (American Intl Group Inc.) layoffs

Get new people who actually care about the company

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.

Reposted from @YA97kWy-3jgo

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Post ID: @YE24zSl

5 replies (most recent on top)

It’s a dying, loser company that cannot compete bc every quarter brings more “unanticipated casualty losses” from poorly priced policies from a decade ago. And they’re still not pricing to win (which means higher premium btw).

Just milk and leverage your time there and make an exit plan. Mark a date on the calendar and say you will be gone by then. That’s what I did (after a decade) and could not be happier.

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Post ID: @YE24zSl-3ioy

very glad to hear you got out very glad to hear that you found another job at 60 and really glad to hear that there's GoodLife after that hot mess

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Post ID: @YE24zSl-ons

Let's face it, AIG won't be around in 10 yrs if that. BD is running it into the ground and the board does not seem to care. It looks like the company is being stripped down to the bones to become another entity. I got out of there at the age of 60 and found something else, I saw what was going on. For those waiting for packages, you have more will power than I ever will, my life and family are more important than the stress of that place.

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Post ID: @YE24zSl-uen

To the previous post: Right on! Fresh perspective!! I will add that all things come from top down. Mid managers are in a no win position a position I’d never aspire to at most any company let alone at AIG. I have a very hard time with the posters who shout out how great AIG was... for goodness sakes it’s an insurance company that’s failed and cares only about the upper echelons- period. No doubt that the worker bees are good folks but my gosh don’t give these blotted executives a pass. To give AIG the honor of Great is simply ridiculous. It’s an insurance company - they’d cut their mother to make a quick buck.

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Post ID: @YE24zSl-wcz

Most of the people who work in my department are still weak. I can understand insecurity, but to hold new people, with talent, back just to make yourself appear valuable is pathetic.

I bet most of the management team goes home after work and relaxes in front of the TV, socializes on weekends, ect but ambitious younger employees are taking courses, learning to skills while similtaneously being punished for it at the office with monotony and incompetent leadership. I don't wanna hear about how the stakeholders are to blame because you don't see the entry levelers going out of their way to ruin each other's repuations. It's the management team who have the biggest impact on morale and when all the talent gets scared off, I hope these middle level "leaders" enjoy their mediocre careers in an out-of-touch company.

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Post ID: @YE24zSl-uty

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