NEW YORK (TheStreet) -- American International Group(AIG:NYSE) is shedding its restructuring advisers in an effort to cut costs, Bloomberg reported.

No, AIG's restructuring is hardly complete, but new CEO Robert Benmosche has his own vision for the company, Bloomberg reported citing sources close to the company. As a result, Benmosche let go consulting firm MicKinsey & Co.

When Benmosche first took the reins at AIG he said he would slow down the shedding of assets, refusing to sell off pieces at barrel-bin prices. He also said he wanted to cut the IPO fees he paid to banks like Morgan Stanley(MS:NYSE), Goldman Sachs(GS:NYSE) and JP Morgan Chase(JPM:NYSE).

McKinsey started its review of the flailing insurer back in March under former CEO Edward Liddy. The plan was to create a multi-year roadmap called Project Destiny.

AIG is in the process of attempting to pay back its $85 billion government loan by trimming fat wherever possible, including divesting assets.

Shares of the company were down nearly 2% to $43.28 in early trading.

-- Reported by Jeanine Poggi in New York