In an effort to reduce expenses, American International Group (AIG), the largest commercial insurer in the US, is moving jobs overseas to the Philippines. The plan is to move thousands of jobs by 2015 to more cost efficient locations which not only include the Philippines, but also Bulgaria and Malaysia. Besides relocating overseas, some positions will be shifted from high-cost cities like New York City to less-expensive United States cities including Texas and possibly Kansas. This relocation of jobs is in addition to the 1500 jobs being cut by the insurance giant. As another cost-saver, the global company is also putting forth a new system to manage claims more efficiently.
AIG is a leader in insurance and financial services. Based in New York, the company operates in over 362 cities all over the world and has approximately 64,000 employees.
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