American General Finance Layoffs

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Former AGF Employee

Jacksonville, FL

#1 Nov 6, 2008
Where you affected by the 200 branches that were closed yesterday? Let the flood gates open for comments.
angie

United States

#2 Nov 6, 2008
Former AGF Employee wrote:
Where you affected by the 200 branches that were closed yesterday? Let the flood gates open for comments.
i work for agf in illinois. what state did your hear of layoffs in?
Former AGF Employee

Jacksonville, FL

#3 Nov 6, 2008
American General Finance closed down several branches thoughout the United Stated yesterday, 11/5/08. The exact total is somewhere around 200. In some states ALL of the branches were shut down. I'm suprised nobody has come on here to talk about it.
BM in MD

Clementon, NJ

#4 Nov 6, 2008
AGF consolidated branches, all employees were offered positions whether it be a transfer or a possible step down. they are trying to improve the profitablity of the company as a whole and reduce expenses. I am sure that they are trying to position themselves for a buyout.
Former AGF Employee

Jacksonville, FL

#5 Nov 6, 2008
I know of employees in Jacksonville FL that were let go and not placed in another branch. Laying off a thousand or so employee's is not the solution. All this proves is that you are just another number...sad but true. What stinks is that as American tax payers we are all going to be responsible for the $143 government bailout of AIG and eventually there probably will be no AGF unless a buyer steps up to the plate very soon. Where is all of this money going to?
NEunemployed

Springfield, MA

#8 Nov 6, 2008
Yeah I dunno who told the poor BM in MD that they were transferring people, but whomever did wasn't being exactly forthcoming. I honestly wouldn't trust a thing that anyone in management is saying these days as even most of the middle managers have been flat out lied to.

All the branches in Maine, New Hampshire, Massachusetts, Rhode Island and Connecticut were closed along with some down near New York City and some in Western New York. Pretty much the entire Northeast was closed yesterday and today.

I only know of one person who was offered a transfer as everyone else was given (pretty good, i'll give them that for sure) severance and given the boot.

Sure it's frustrating to lose the job, but in all honesty, I had been looking to leave for months along with a boat load of others. The whole atmosphere was kind of weird. No one was really all that crushed, at least not in our branch.. People were more or less upset because they felt mislead. There are some incredibly inefficient systems in place at the company and combined with poor market analysis (in terms of where they choose to put branches and whatnot) and some very archaic management practices, it was bound to happen sooner or later.
left with no choice in MD

Lincoln, DE

#9 Nov 8, 2008
five out of the eight branches in my district were close - many layed off right on the spot - i wasn't given a severance pay option - either to transfer to a branch (an hour from where I live) -or leave the same day w/ no pay. The DM and ADO couldn't have been more tactless and cold when visiting branches - it was pretty much - your branch is closing - you, you, and you - transfer or leave - you and you - you're fired - very tactless - they've got it coming to them
fmr asst mgr sr - cali

Ione, CA

#10 Nov 9, 2008
BM in MD wrote:
AGF consolidated branches, all employees were offered positions whether it be a transfer or a possible step down. they are trying to improve the profitablity of the company as a whole and reduce expenses. I am sure that they are trying to position themselves for a buyout.
This is not true - they closed several cali branches and they terminated most employees without a transfer option!
fmr asst mgr sr - cali

Ione, CA

#11 Nov 9, 2008
there we numerous branches closed here,several upper management let go (bm or higher) and severence packages (thank god) to these people. I am only privy to the cali branches near me - where else were branches shut down.
current bm in FL

Debary, FL

#12 Nov 9, 2008
we had no offices close in our district,thank God...jobs are scarce at best around here...but I don't think this is the last we'll hear of layoffs or office closings.
left with no choice in MD

Lincoln, DE

#13 Nov 9, 2008
BM in MD wrote:
AGF consolidated branches, all employees were offered positions whether it be a transfer or a possible step down. they are trying to improve the profitablity of the company as a whole and reduce expenses. I am sure that they are trying to position themselves for a buyout.
This is NOT true - many employees in my district were let go on the spot with no options to transfer. Those who were kept were told to transfer(didn't matter how far from where they live)- or walk away w/ no pay.
NEunemployed

Springfield, MA

#14 Nov 9, 2008
Well, here's what I know of... 200 branches total. Anything opened post 2004 is being looked at to be shut down. Here in New England... Maine, NH, Rhode Island and Connecticut were all shut down. Three DM's canned including all the other employees. Massachusetts went down in August, but they kept the DM around long enough to set up a consolidation center before letting her go as well. Most of NY state got the pink slips, too.

I'm unaware as to what's going on in PA and New Jersey but I know the New England accounts are being collected at a service center down there as well. I would guess clock's ticking for them, especially if branches are being duffed in Maryland.

Here we were given severance pay. I know the DM in western connecticut took a transfer to PA, but who knows how that's going to go..

The company's a mess though. They're going to make a go of it shrank down to their last buy-out size, but my guess is they'll get liquidated. I wouldn't be at all surprised if the DO in the Northeast is next. He's down to like three districts....

Since: Nov 08

Debary, FL

#15 Nov 10, 2008
how long were you with the company to receive no severance - that's just cruel at a time when jobs are hard to find and holidays are approaching....
Former AGF Employee

Jacksonville, FL

#16 Nov 10, 2008
It's disugsting that the government continues to bailout AIG...the debt is up to $150 billion now...where is my bailout?
Former AGF NY Employee

Queensbury, NY

#17 Nov 10, 2008
I was offered to transfer over an hour away but I turned it down. The other two employees in my branch were terminated on the spot. I was only offered a transfer because I was rated an "exceeds expectations" on my last review. According to the DM that fired us that is what they went by.
Finance Manager-Illinois

Van Nuys, CA

#18 Nov 10, 2008
Former AGF Employee wrote:
Where you affected by the 200 branches that were closed yesterday? Let the flood gates open for comments.
Have you heard of any closings in Chicagoland Suburbs?? They are closing the retail section down I heard..What a mess!
left with no choice in MD

Lincoln, DE

#19 Nov 10, 2008
...and then to to add insult to injury they say - let this be a warning to those left behind - "we're watching you" - as if we're all not aware of the situation. Is that how they expect to motivate employees who just watched 1/2 of their coworkers get layed off - happy CAD...right?
formerroguemanag er

Winsted, CT

#20 Nov 10, 2008
The only thing I know is that the company has lost many a good employee especially those terminated in CT. In my branch they brought in 2 district managers from other states to do the ditry work because the ADO & DO didn't have the guts to show their faces. First, they sit you down in the office & go over the severance package. Second, they go over it with all the other employees. Finally, they ask you to go make a final deposit, gather a bunch of the company's logs/files, etc. I told the DM's they were dumbasses for asking me or my staff to do that.

All of New England is gone - CT was the big player in all of the northeast. I know there were "solid deals" made in all the branches. Whoever was the genious to buy Equity One should have been fired before AGFS acquired them.

Now I can go do my real calling - janitor. Thanks American General..........for nothing.
Wayne

Kailua Kona, HI

#21 Nov 10, 2008
My wife (Branch Manager) here in Hawaii was terminated along with one other employee. One employee was giving a chance for a transfer to the other side of the Big Island. My wife has told me that more branches here in Hawaii are also being looked at being closed. Now when you read the news, there is nothing that any major newspaper or TV news stations are airing. I wrote a several major papers and TV stations. I received an email back from one Newspaper that says American General Finance main office says that only 9 branches national wide have been closed in the past yr. I did agree. My wife has seen the numbers. 175 on 5 nov and 90 a month prior. So i guess AGF gets the bailout and gets to lie about a how many branches actually closed.
Miss Needajob

United States

#22 Nov 10, 2008
I work in the Atlanta area, our DM and ADO have been missing since Friday, and both are due back to work on Wednesday. I bet they have been in a meeting working out who to fire, this organization is managed by a bunch of idiots I am just sad for the people who really need the job.
I know that branches in Florida, Alabama and TN have closed, heard nothing in GA yet.
Timing is typical AGFS in the middle of CAD. Well what about Employee appreciation? WOW how bad can an organization handle its affairs?

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