AIG to give out $100M in bonuses - NBC12 - WWBT - Richmond, VA News On Your Side

AIG to give out $100M in bonuses

Posted by Shawn Maclauchlan

RICHMOND, VA (WWBT) - More outrage after insurance giant AIG announces millions more in bonuses.

The company still owes the government billions after being bailed out in 2008.

About $100 million dollars is expected to be given out to employees of AIG's financial products division - the unit whose risky bets helped sink the company and led to the government's $180 billion bailout.

Wednesday's payments are for those employees who agreed to take a 10 to 20 percent cut in bonus bucks. Since they agreed to do that, they are getting their money more than a month early.

Next month, AIG is still expected to pay out millions more to former employees who didn't agree to the cut.

AIG says it has to pay these bonuses because they are promised in contracts.

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