ACN corruption
23 replies (most recent on top)
For the people being rebadged to Accenture, don’t believe you be there for a long time. It’s just a temporary assignment for you to transfer your knowledge to Accenture India. Once it’s transfer you be either let go or possibly offer another position at a much lower salary.
Some employees were told they would be offered positions at Accenture and if they refuse, AIG will not give them a severance. So basically, they walk away with nothing.
Why do you think severance is not guaranteed? Do you think workers with significant time in will move to Accenture and get no severance then?
You are in the middle of a layoff, you know management is terrible, the culture is toxic and they treat their workers like dirt. Don’t stop to blame anyone.. focus!! Update your resume and get your finances in order to better position yourself. Severance is NOT guaranteed.
Yeah, just relax. Nothing to see here. AIG is a great company, and the executive team will always do the right thing for their employees. Bahhahahahahah.
Everything on here is speculative. It’s drips and drabs of what people have heard or been told. It’s a game of telephone. Relax.
Recommending people assume worst case scenario in planning is different than presenting worst case speculation as fact.
Wait until they change the package is not telling people to consider worst case in planning. It is acting as if you have Inside info the package IS changing.
Wait until the massive asteroid hits the earth. Granted a much higher chance the package changes over the asteroid so people should weight that more heavily in their plans. Same principle in that eventually both statements will prove true.
I'm sorry you can't tell the difference.
Excellent post by ID: @mfe+1hHLf41o. I was at AIG from the Greenberg days thru most of that described. Absolute shame and has become a dumpster fire of an organization.
Even if severance stays the same please take a very good look at your personal situation in both best AND worst case scenarios.
But wait, most (no, not all) of the speculation on here over the past few years has actually come true lol
Sorry, but people should assume the worst case scenario. AIG is making truly horrible decisions regarding their employees - who knows what will be next. Expect the unexpected, and be happy if it doesn’t materialize. Don’t give people a false sense of security that this dumpster fire of a company is looking out for their best interests.
Poster is right that the policy can change at any time and that risk should be part of your decision.
Layoffs are not new. This has been happening in large numbers for at least 7 years.
Severance policy hasn't changed. It is always speculated it will.
It absolutely can and someday the speculation will be right. Unless poster knows it is in process they should make the comment as a risk not a certainty.
Saying "wait until they change severance" without first hand knowledge a change is coming is a post about you and not concern for others.
When people just learned they may/will be laid off in future months it is insensitive to state speculation as fact.
Reminding people that staying with the hope of a RIF/severance is a risk is different from stating speculation as fact.
People always need to think through worst case scenario in their stay/go decisions to determine their tolerance for that risk whether it is likely to happen or not.
Talking or even speculating about severance is NOT insensitive as the prior poster stated. Folks should be prepared for what’s coming down the road. DO NOT hang your hat on the prospect of definitely receiving severance - this policy can be changed at any time / for any reason and if you are sold off to another company you would be on their severance plan. Look around - AIG does not care about you or your family or your future. Everyone should really plan accordingly for your own financial well-being.
Almost sp-t my coffee across the room when you they wanted to keep AIG brand. For what? Where does AIG have a good name?
It’s clear from the Actions of AIG (not dpeculation) that managament has absolutely no regard for their employees. They RIF, sell, outsource, offshore their employees without thinking twice, and then leave the few left behind to pick up the pieces and clean up their mess. If you now are expecting them to “do the right thing” with respect to severance, comp and benefits you’d be foolish. As the old saying goes, when someone shows you who they are, believe them.
The current severance package is the only reason I stay. They jack with that, I might have to start looking harder. Always looking anyway but, changing severance to something like 1 week instead of 2 weeks per year of service would make me consider leaving sooner.
I'm sorry for all the bad news.
If this is your first exposure to the layoffs and people transfers here consider yourself lucky.
This has been happening for years. In huge numbers.
Someone says severance is changing every year and with every big RIF.
Someday they will be right but unless the poster is working personally on the revision it is look at me speculation.
Speculation that is pretty insensitive given the reason people are here reading posts.
They are looking to cut all non-essential costs. Severance is for sure being analyzed. Look at the other horrible decisions that are being made…
What's happening with the severance package ?!
Just wait until the severance policy is revamped… it’s not gonna be pretty.
This makes so much sense and explains alot.
No one wants to hear this. Sorry.
The goal is to run off or sell most business units. To shrink AIG to a mere brand name. Maybe one or two units will remain at the end of the day. That's it.
To answer your question, the government is to blame. They should have let AIG die in 2008, but they allowed it to exist with the understanding that it will be run down in an organized fashion that does not adversely impact the overall economy. Unfortunately, when the SIFI rating was removed, the government washed its hands of AIG and allowed BD, PZ and crew to loot the company as it liquidates the holdings. Carl Icahn tried to do the exact same thing, but Peter Hancock wouldn't go along. BD seized the opportunity to make a fortune when Hancock was run out.
The government no longer cares because Blackrock is protecting the politician's investments in L/R. So what is left? A failing GI company with many units that need to be offloaded. Each of these units is doing anything and everything possible to get their book in order so that someone, anyone will buy them.
In 5 maybe 7 years AIG will be a name only, like Sears or Kmart. A failed company that took 25 plus years to divest. You see it happening. You choose not to believe it. Good luck to the legacy people trying to make it to retirement. It is a race against the inevitable.