(Bloomberg) – American International Group Inc.'s headcount fell by 10,000 last year as Chief Executive Officer Peter Hancock sold units and cut jobs.
The number of employees fell by 15 percent to 56,400 as of Dec. 31, New York-based AIG said Thursday in a regulatory filing. That compares with 116,000 at the end of 2008.
Hancock follows predecessors Robert Benmosche and Edward Liddy in shrinking the company that longtime CEO Maurice “Hank” Greenberg had built into the world's largest insurer. The company sold some of its largest units from 2009 through 2012 to repay a U.S. bailout.
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