Wednesday, February 03, 2010
Brady Dennis, Washington Post
Brady Dennis, Washington Post
AIG to pay another $100 million in bonuses
American International Group plans Wednesday to pay another round of employee bonuses, worth about $100 million, said several people familiar with the matter, a year after similar payments at the bailed-out insurance giant infuriated many Americans and inflamed Washington.
[Washington Post] This week's retention payments go to those employees at the company's Financial Products division who agreed recently to accept 10 to 20 percent less money than AIG had initially promised them two years ago. In return, they are to receive their payments more than a month ahead of schedule.
The company is still scheduled to pay out tens of millions of dollars more in March, mostly to former employees who did not agree to the concessions.
Government and AIG officials have been eager to avoid a repeat of the public furor that erupted last March when an earlier round of payments -- worth $168 million -- went to the same set of employees.
Posted by Editor on 02/03/10 at 06:45 AM •
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