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American General Slashes 900 JobsInside INdiana Business
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August 14, 2009
Evansville-based American General Finance Corp. says it reduced its work force by 900 during the first half of the year. The consumer lending arm of American International Group Inc. says it has also closed 145 branches. It outlined the cuts in a quarterly filing with the U.S. Securities and Exchange Commission. American General Finance recently posted a second quarter operating loss of more than $200 million.
The cuts announced in the SEC filing are deeper than anticipated.
The company revealed in May that it planned to lay off 500 workers throughout the company, inlcuding 140 in Evansville.
The cuts are being attributed to the weak economy and its impact on the lending industry.
http://www.insideindianabusiness.com/newsitem.asp?ID=37175
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