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IP: Trust me, our Voluntary Separation Program's a hell of a lot better than our Involuntary Separation Program: Good Morning Silicon Valley Tue May 01 12:15:25 EDT 2001
From: David Farber <dave () farber net>
Date: Tue, 01 May 2001 18:58:18 -0400
Trust me, our Voluntary Separation Program's a hell of a lot better than our Involuntary Separation Program: Facing a slowdown in the U.S. economy and a persistent weakness in the communications industry, Intel has embarked upon a number of efforts to curb costs -- these in spite of Intel CEO Craig Barrett's recent claim that <http://cnnfn.cnn.com/2001/04/26/technology/wires/intel_wg/index.htm>"we know we can't save our way out of a recession." The chip behemoth has reportedly initiated <http://www.dotcomscoop.com/x/x/988723250,92072,.html>a "Voluntary Separation Program" to help the company meet its headcount reduction goals. The program offers Intel employees -- who might at some point in the future become the unwitting beneficiary of an "Involuntary Separation Program" -- the option of leaving company with a pre-determined severance package. "Intel's ability to respond to changing business conditions is critical in the current economic climate," <http://www.dotcomscoop.com/intelvsp.html>reads a company memo distributed to employees. "Some business groups are over their plan of record headcount targets. While some groups will meet headcount reduction targets through normal attrition, others will need to take further action, such as offering employees a voluntary separation program."
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- IP: Trust me, our Voluntary Separation Program's a hell of a lot better than our Involuntary Separation Program: Good Morning Silicon Valley Tue May 01 12:15:25 EDT 2001 David Farber (May 01)