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Can you imagine this! Anastasia Kelly, chairman for legal, human resources, corporate affairs and corporate communications resigned effective December 30. She claims to be eligible for severance pay under the company's executive severance plan of $2.8 million dollars.
The employees at American International Group, Inc. (AIG) have so far been able to mix arrogance with incompetence to a new level. First off, it was their incompetence that took AIG to its knees. AIG had to be bailed out to the tune of $180 billion dollars by the U.S. government. The government owns 80% of AIG.
Now to the arrogance. These incompetent, greedy ones have the audacity to hold Kenneth Feinberg hostage by telling him that they are indispensable. Five of the employees, including Kelly, met with Feinberg on pay issues and tried to shake him down for more money. This after Feinberg ruled on a limit of $500,000 for employees 26 through 100.
Cornelius Hurley, director of the Morin Center for Banking and Financial Law, said that no AIG employee is irreplaceable. "We have been duped into thinking that these AIG employees have some kind of secret code that no other employee could discover if they were hired to replace them and therefore they are able to basically hold the company ransom."
As for severance pay, forget about it. The government owns 80% of AIG and can over rule any company policy, change it, and nullify it.
Perhaps it would be a good idea to clean house and start with a new group of employees.
Should AIG employees be given severance pay?
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Reader Comments (Page 1 of 1)
1-02-2010 @ 12:40AM
mauriciolopezsr said...
Why are We letting these incompetent AH's that broke the company stay in their jobs???
We should have fired them all; Hell I can loose have the money they lost and be happy to get paid 500K!!
In my book any employee that looses 180Billion dollars deserves a check!! A LAY OFF check!!!!
1-07-2010 @ 6:55AM
mark young said...
Just let them ALL go. They aren't needed anymore, a common thug can ruin a company, anyone who takes pride in what they do will work for free to repair the damage they caused.