AIG job cuts News

AIG Continues with Job Cuts; Warns 242 in New York Next to Go

American International Group Inc., the insurer that’s been under pressure from activist investors, said it plans to cut 242 jobs at five locations in New York City. The reductions will take place through Sept. 30, and include its Water Street …

AIG CEO to Employees: Expect Fewer Lifetime Jobs

American International Group Inc. Chief Executive Officer Peter Hancock, who is shrinking the company while fighting off an activist investor, told staff that they can’t all count on lifetime employment with the insurer, according to people familiar with his remarks. …

As Activist Investors Circle, AIG Posts Q3 Loss; Plans to Cut 400 Jobs

American International Group Inc., the insurer facing pressure from activist shareholder Carl Icahn for a breakup, posted a third-quarter loss as investment results deteriorated. The company plans to cut as many as 400 senior- level jobs. The net loss of $231 million, …

AIG Cutting Jobs, Moving Others to Lower Cost Cities

American International Group Inc. Chief Executive Officer Robert Benmosche is increasing returns for shareholders as he targets job cuts to simplify the firm. AIG boosted its quarterly dividend by 25 percent to 12.5 cents a share and authorized another $1 …