Any subsequent earnings would cut bonus payments

AIG sent questionnaires this month to ex-workers at the Financial Products unit asking whether they’d earned income after leaving AIG so it could cut payments due to them, Bloomberg reports.

AIG is seeking to satisfy US paymaster Kenneth Feinberg’s demands that derivatives staff return the full amount they pledged to give back after a March 2009 backlash against the awards.

“AIG owes the taxpayer a huge amount of money and we want to make sure that my compensation practices take into account the need for AIG to thrive,” Feinberg, said.

Most of about 60 former workers refused to make concessions and said that they didn’t earn income after leaving AIG.

Websites

Topics