US government employment figures show speed of job cuts
The US Government Accountability Office claimed AIG employed 106,000 people at the end of June, about 10,000 (8.6%) fewer than listed in AIG’s 2008 annual report, Bloomberg reports.
Mark Herr, an AIG spokesman, wouldn’t say how many people were fired, quit, or employed at operations the company sold.
“AIG is going to be a much smaller company,” said Robert Haines, an analyst at CreditSights Inc. in New York. The rate at which the company sheds workers “will really be dependent on the timing of large asset sales.”
