Former Financial Products staff to share “retention” bonuses
AIG must pay former Financial Products employees retention payments even though they no longer work there, Reuters reports.
As many as 40% staff in line for the payout due in March of 2010 are former employees. About 200 current employees will get bonuses.
Andrew Goodstadt, a partner at lawyers Thompson Wigdor & Gilly, which is representing some current and former AIG Financial Products employees, said the former employees who were laid off or terminated without cause have a legal entitlement to their retention payments.
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