Rick -- Sheila Walton is pretty adamant about a couple of things for the meeting tomorrow.  She will be sitting in with me on the phone conversation.

1.  She wants to leave out any indication of giving even an impression, even though we're not using the words, of a "voluntary" process.  She recommends the following verbiage for that situation.

	We have been working over the past several weeks on finalizing the 2002 budget, and have been tasked to find ways to reduce the 2002 budget.  I have been working very closely with each of my direct reports and the expenses associated with each of the areas, and I feel we have reduced as far as we can on non-personnel related expenses.  However, there is still a need to reduce further, which will necessitate reducing some headcount.

I want to assure everyone that you have my commitment to make this business adjustment as painless as I possibly can.  I will be making the final decisions on the reduction within the next couple of weeks.  If anyone has any questions or concerns that you would like to discuss with me, I will be more than happy to visit with you.  
  << Leave all references about employees pursuing other career options out.  This would make it perfectly clear that this is NOT a voluntary process.  But you have still left open the door for anyone to come talk to you. >>


2.  Sheila has also said that we need to have decided how we are going to enhance the package and also communicate that to employees.  Since we won't know this by tomorrow, she is saying to tell the employees that the minimum package will be the standard severance package then there would be an enhancement.  The following is how you could address this:

Those individuals affected by the reduction in headcount will be eligible for the Enron Severance Plan for a Business Reorganization.  In addition, I am working on a plan that will look at enhancing the maximum benefits of the Enron plan for this particular initiative.  I expect to have final approval of the terms of the additional benefit early next week.
<< I've done a preliminary review of the bonuses paid.  It appears that bonuses paid were anywhere from 30% - 55% of base salary -- much less for administrative assistants.  We need to make the determination on how you want enhance.  You can either do it a % of base pay or a set number of additional weeks.  It will just have to be the same for everyone.>>

Hope this helps.  I'll give you a call when I get in so we can discuss before the meeting.
Thanks.
Jo Ann