The Company intends to offer EISP. Volunteers will be accepted as necessary to meet business needs. Information as to package distribution, volunteer period and last days worked for accepted volunteers for EISP is to be determined.
In the judgment of the Company, it is unlikely that EISP will be sufficient to meet its force reduction needs.In that event, the Company intends to invoke the force adjustment provisions under Article 35 of the General Agreement which may require part-timing, reassignment to lower paid job titles or classifications, involuntary transfer which necessitates a change in residence and termination or layoff of regular employees with a net credited service date of August 3, 2003 or later.
Again there has been no date assigned to this surplus. More information will follow later in the week. There will be a "Committee of 8" meeting this week in New York. We will advise you of any additional information as we receive it.