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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