AIG to Cut 242 Jobs in New York City Amid Activist Pressure
- Insurer has said it plans to move jobs to cheaper locations
- Company says cutting costs to be clients' most valued insurer
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American International Group Inc., the insurer that’s been under pressure from activist investors, said it plans to cut 242 jobs at five locations in New York City.
The reductions will take place through Sept. 30, and include its Water Street headquarters, as well as Pine Street, Old Slip, 1 New York Plaza and Liberty Street offices, AIG said in a so-called WARN notice dated March 21 and filed with the New York Department of Labor.