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 <dave () farber net>]

> 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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