AIG says to lay off about 5,500 after buyout


NEW YORK, Sept 27 (Reuters) - American International Group Inc , the world's top insurer by market value, said on Thursday it plans to lay off about 5,500 workers following its takeover of auto insurer 21st Century Insurance Group. The job cuts will take place over a period of two years, said Joe Norton, a spokesman for AIG, which earlier said it had completed the acquisition of 21st Century. They represent about 11 percent of the combined work force of 21st Century and AIG's direct ...

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