McKinsey is here to save AIG. They need to fix the Finance division, where you have tremendously overpaid Grade 24 and above workers. They need to get expenses down and soon. You have people making over 125k doing data integrity and cleanup work. Either you expand their job work or outsource to India to do the work.
Does anyone else any no any other area in finance that needs to be scaled back to common sense levels of expenses?
Just wondering why BD didn't include what McKinsey is recommending as far as RIF's. Most of town hall was spent on the womens's British open game. Really, they didn't have time to get to many questions. Why didn't BD take the time and post the questions with an answer in the e-mails? Because he and Senior Management aren't transparent and don't want the employees to know what's coming down in the near future. They hire all these Senior Management as well as McKinsey and he doesn't have anything to share with the rest of the company. I guess we have to find out from the news or here on this blog. This is really such a disservice to all the loyal employees who don't have any idea of what is really going on
I think BD should do the town hall while a board one of the new jets to show how nice it is and explain how it is helping AIG to increase profitability....
Maybe music in the background “Like a G6..,.”
Expect 20% reduction in the next 2 to 3 years
Will BD discuss what McKinsey is recommending for RIF's in his town hall on 8/8. I don't think so. He doesn't ever discuss what is coming down the road for employees. Sad
Do you think McKinsey will recommend employees getting the whole day off on the Friday before Labor Day instead of a half of day. AIG makes out really good on the half days before vacation days. If you want the day off, you have to take a full day of PTO which is totally unfair and I believe it's a Labor Law issue. If you are salaried, you can't take 1/2 day off, you have to get docked for the whole day. So I don't know why McKinsey wouldn't recommend we get that whole day on Friday before Labor Day off. It's only fair.
I don't believe McKinsey is here to save AIG. I doubt that. Maybe for a very short period of time because of the RIF's they will recommend but in the long run, BD and all Senior Management will leave with all the money and benefits AIG gave them up front. They wouldn't be able to do enough damage control to save the company. So much damage has been done so far and customers know it. It's become very unstable and everyone at AIG knows it.
ZZl2sye-6dyh, RIFs in different places throughout the year. International was hit in July, another one will hit in August, probably monthly through year end.
Remember, JR has to hit expense targets to make his bonus. Replacements will be speaking Hindi or Urdu, and you will likely be training them. I wonder if they will keep AIG acronym but change meaning to All India Group. Or maybe Synergy is Us.
Any information on when RIF's will occur. I heard for the most part they are over for the year. Then I also heard that in August and sometime in the fall. So I am hearing 2 very different things.
One acronym. RIF.
I am wondering what McKinsey has up it's sleeve to recommend for RIF's or restructuring
Amen
McKinsey has never done anything of long term value. It like most other consulting firms take huge amounts of money for no reason and are usually brought on to based on their supposed reputation that apparently lends to validation of what the company wants. Save your money, think properly and do the right think to move the ship in the right direction