American International Group Inc. said yesterday that its acquisition of 21st Century Insurance Group will result in the layoff of 600 people through the elimination of duplicate positions.
The insurer said the cuts would affect about 11 percent of the combined work force, which amounts to 5,500 people. AIG said the merged organization will be named aigdirect.com.SM, and will be based in Wilmington, Del., and Woodland Hills, Calif.
Bruce Marlow, chief executive officer of 21st Century, will serve as president, and Tony DeSantis, president of AIG Marketing, will serve as chief operating officer, AIG said.
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