KINGSPORT, TN (WJHL) – American International Group, or AIG, has announced layoffs affecting employees in Kingsport and across the country.
Officials with the insurance company said they want to simplify their business by restructuring its AIG Financial Network (AIGFN).
Employees were notified Thursday.
A statement from an AIG spokesman said, “Unfortunately, this involved staff reductions at AIG Financial Network (AIGFN) locations throughout the U.S. While difficult, we strongly believe that these adjustments are critical to AIG’s overall strategic direction and simplified business model to ensure efficient resource allocation going forward.”
It’s unclear tonight how many workers in Kingsport were affected but the spokesman did confirm that the layoffs affected it’s location at 2004 American Way.
Our sister station WKRN also confirmed that 128 employees would be laid off in Nashville.
In the article, Melinda Kelsey with the Tennessee Department of Labor and Workforce Development said the state did not receive notice from AIG.
Kelsesy said federal law requires a notification of layoffs of more than 100 people and the state requires a notice for more than 50.
The layoffs are effective immediately.
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