Don’t worry about layoffs

I wouldn’t worry too much about layoffs anymore.. for the middle and young generation. People are jumping ship and positions are not being backfilled. You are actually very valuable at this very moment and even if you do the bare minimum, you won’t get sacked.

For the young generation, just go ahead and gain some years of experience during this crucial time period, because you’re working for Pennies and they really won’t sack you. You’re cheap and naive.

For the mid levels, do the bare minimum because you’ve probably been given more work ever since your co worker left and they need you as they won’t back fill. But remember, BARE minimum. You will not get a raise or promotion no matter how much you try. Try looking for a job in the meanwhile or rack up another 1-2 years of experience just cruising.

Upper management. Now this is tricky. You are metric and goal based and if your employees are doing the bare minimum, then you’re going to get sacked. I’d look for another job asap because let’s be honest.. no one below you is going to help you attain your metric goals in order for you to keep your job and get your sweet ole bonus.

Executive team - keep looting as usual. We all know they’ll cash out when share prices are where they want it to be. Then they’ll leave. Aig is all short term based never long term. Buy back some debt, cut staff, funnel some money someone to make the ratios look nice.. goals and metrics really don’t affect executives. They’re the cream of the crop!

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To the post directly below, yes c-suite obviously doesn’t care about the work. The point is if the work is done so poorly that customers begin to do business elsewhere, THAT is where the difference is.

Also do agree that if you think of yourself as at least someone of moderate competency in your job the time to work somewhere else is now. Give yourself the worlds easiest pay raise by working somewhere else.

This is such BS. C-suite doesn't care at all if work is done correctly. The work is outsourced, the liability has been shifted. They aren't done cutting "costs" here, get real. If they think Joe's Garage can do your job cheaper it means more $$ in their wallets, so Joe is gonna get the work.
This is AIG. RIFs will continue. I guarantee it.

To the post below, what do you mean “will not be controlled by AIG though”…?

There is a large confirmed staff reduction coming in February, right after sti hits the bank. It will not be controlled by AIG though.

The post is 100% correct. The best thing everyone at AIG can do is DO THE BARE MINIMUM. This is the only way anything will change. You won’t get riffed and it will be extremely hard for them to put you on a PIP, so just do the bare minimum.

One of two scenarios will happen…

work will get so bad it’ll rank the financial results bad enough that the exec team will no longer be able to cover it up with expense reductions, and the current executive team will realize they won’t be able to ever hit their metrics and will leave.

shareholders will realize this is a joke and the “chop shop” strategy that PZ and crew are trying isn’t going to work (this isn’t even a remotely original plan) and they get voted out

Just remember, you are not valued.

PZ got a $4 million STI on top of his $1.5 million salary…what sort of a raise did you get last year…?

It really is interesting how naive leadership is. I’m now spending half my day correcting mistakes made by the offshore Accenture folks, who must get some tax credit for hiring “special” people over there. This is on top of my day job. I really don’t care anymore whether I’m riffed or not, as I’m leaving after STI in February.

agree, your department may be sold like cattle to the highest third party bidder in some cases, but layoffs as we have known them will be minor. we barely have enough people to do even the simplest tasks at this point. plus the next wave of departures is already tee'd up for february after sti is paid.

this is payback time in my opinion. aig has created this crisis, now any employee can simply sit back and be an underachiever with little to no ramifications. enjoy your holidays, take a break, look around you and just smile as productivity continues to fall off a cliff.

this is what the execs have asked for so let's give it to them. enjoy!

Thread regarding AIG (American Intl Group Inc.) layoffs

Don’t worry about layoffs

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