Stung by criticism over lavish employee perks, AIG has announced a new blanket policy regarding events. Here’s the email we just received:
Earlier today, AIG announced an important policy change – one that we wanted to be sure you knew about.
A short time ago, our Chairman and CEO Ed Liddy said that he has ordered the immediate cancellation of all outside meetings, conferences, and recognition events across AIG, except those that are required by law or that are deemed absolutely critical to sustain our ongoing business needs.
Given AIG’s commitment to our customers, business partners, regulators, and American taxpayers, coupled with the new and very different challenges our company now faces, we take these responsibilities extremely seriously. Their trust is critical to our success. We recognise the need to be sensitive about all company expenditures.
As we move forward, we will continue our focus our efforts to pay back the $85 billion loan from the Federal Reserve Bank of New York as quickly as possible.
We appreciate your blog’s efforts to share this information with your readers.
AIG Blog Relations
Somehow we suspect this “absolutely critical” loophole will be left open just wide enough to give the company some latitude. Still, good from a PR standpoint to head some of these issues off at the pass.
Oh, and here’s a PR tip: Might want to humanize your “AIG Blog Relations” a little bit. A name would be a fine start.
Business Insider Emails & Alerts
Site highlights each day to your inbox.