(Bloomberg) – AmericanInternational Group Inc.'s headcount fell by 10,000 last yearas Chief Executive Officer Peter Hancock sold units and cutjobs.

The number of employees fell by 15 percent to 56,400 as of Dec.31, New York-based AIG said Thursday in a regulatory filing. Thatcompares with 116,000 at the end of 2008.

Hancock follows predecessors Robert Benmosche and Edward Liddyin shrinking the company that longtime CEO Maurice “Hank” Greenberg had builtinto the world's largest insurer. The company sold some of itslargest units from 2009 through 2012 to repay a U.S. bailout.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.