They will be hiring 600 people there. Does it mean they are getting rid of 600 in the New York area?
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The new office will be all about AI and automation, they want to get rid of far more then 600 people around the world, replace everyone by computers. Good luck 🤣. They can't just cut costs forever if ROE is below mediocre, they can Grant profits to shareholders only when they sell a piece of the Company, but now there is basically nothing left aside from General insurance. And that's explain while revenue has plummeted
This sounds familiar. Around 2003, a mega service center was opened in Alpharetta, GA and some offices throughout the U.S. were closed. The affected employees were given the option of a basic severance package or relocating to GA. A lucrative relocation package was offered to get as many employees as possible to transfer to fill the seats, maintain continuity and customer service.
Not AIG but our friendly Accenture on behalf of AIG. You all know we @Accenture love this getting rid of AIG bad a-s and getting accentureans
By my count, I understand the VERP got rid of 1200 people (most in the high-cost NY market), so adding 600 people in Atlanta would still be a net negative to AIG.