American International Group’s money-losing consumer finance unit on Thursday said it eliminated 900 jobs and closed 145 branches in the first half of the year, and may make further cutbacks as it prepares to be sold.
The job and branch cuts represent about 11 percent of the year-end totals that the Evansville, Indiana-based company had reported. American General said it ended 2008 with 7,900 employees and 1,374 offices, a separate filing shows.
American General cut 380 jobs and closed 178 locations in the fourth quarter, including all branch offices in Connecticut, Maine, Massachusetts, New Hampshire, and Rhode Island, the lender said in its annual report.
An AIG spokeswoman said American General decided on the job cuts in May, and attributed them to the economic downturn.
Read more at :
CNBC.com : AIG Finance Arm Cut 900 Jobs Amid 6th Straight Loss
Bloomberg.com : AIG Consumer Lender Cuts 900 Jobs as Losses Mount
Reuters.com : AIG finance arm has 900 job cuts, 6th straight loss
Tags: AIG, American International Group, Layoffs
