Business & Tech
News-Times: Wilton AIG Unit Facing More Controversy
AIG Financial Products division employees threaten a walkout unless they are paid a substantial amount of outstanding bonus money.
According to a report in the News-Times, about 20 workers at the Wilton-based Financial Products division of troubled insurance giant AIG would walk out this coming March if they do not receive their bonus payments.
The issue surrounds some $198 million the company reportedly owes its employees. AIG has been withholding these payments pending a federal investigation and the company's receipt of $182.3 billion in bailout funds.
Some believe paying large bonuses after receiving bailout money is unethical, particularly in light of the fact that many of AIG's risky financial products are said to have partially caused the country's financial collapse. Others, however, believe that AIG has an obligation to fulfill its employees' contracts, in spite of its other financial difficulties.
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Read the full story: AIG traders threaten walk-out.
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