AIG reviews

Senior management, do not know how to retain talent, no clue on what the true direction of the company, cost cutting everywhere

The new management doesn't treat employees with respect. They think the underwriters aren't smart or talented - many of the "top 100" leadership have never even bothered to visit a field office. They think that the only way to fix the problems at AIG is by a) putting controls and to manage by fear and b) replacing everyone with people from outside who will just execute on Zaffino's agenda. Peter and his leadership team have done a reorg every 6 weeks it seems - the level of instability this creates means that people are constantly waiting for the other shoe to drop. It's pretty basic knowledge that when you lay people off, how you do the layoffs has impact on the culture of the remaining employees. There's a way to do this that ruins morale, and there's a way to do this that can create a new mission. The rolling layoffs has create a morale crisis that's worse than it was in 2008