Feb 2 (Reuters) - American International Group Inc:
* Says some 97 percent of active financial products employees volunteered to
reduce their upcoming 2010 retention payment
* Says decided to begin reduced payments to these active employees, and
non-active employees who agreed to reductions
* Says reductions from these two groups stand at about $20 million
* Says certain non active employees volunteered an additional $4.5 million in
reductions
* Says for reasons unrelated to program it is not able to accept those $4.5
million reductions at this time
* Says to continue work with former employees to round out remaining amount of
giveback target over next few months
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about American International Group Inc click here:) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Says some 97 percent of active financial products employees volunteered to
reduce their upcoming 2010 retention payment
* Says decided to begin reduced payments to these active employees, and
non-active employees who agreed to reductions
* Says reductions from these two groups stand at about $20 million
* Says certain non active employees volunteered an additional $4.5 million in
reductions
* Says for reasons unrelated to program it is not able to accept those $4.5
million reductions at this time
* Says to continue work with former employees to round out remaining amount of
giveback target over next few months
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about American International Group Inc click here:) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.