To: L1-L6 US-based Management Employees
As we’ve communicated many times, we are on a journey. We operate in a highly competitive environment, facing both the opportunities and challenges associated with technology disruption and evolving customer expectations.
We continue to manage through these challenges while transforming our business for the future. To maintain our progress on a path to sustainable, long-term growth, we need to consistently adjust as we go.
Later this afternoon, most of our (L1-L4) U.S.-based ATO and GCSC managers will receive a News Now announcing a Management Voluntary Offer (MVO). This offer will provide severance to individuals who are ready to voluntarily leave the business. We know this is an important decision for you and your family. We encourage you to review the MVO materials carefully and get the financial and legal advice needed to make your decision.
We have, and will continue, to grow in areas of our business where we see increased customer demand and strong opportunities for our products and services. We must also continue to control costs while getting faster, leaner and more agile, which means restructuring as necessary in some areas to create the capacity to invest in growth.
Aligning our workforce needs with the future direction of our business is something we do regularly and will continue to do in the normal course. We don’t know how many employees will accept this voluntary offer. It is possible that in some departments the MVO may not generate enough interest and there could be a need to move to an involuntary surplus.
We will keep you updated on key developments and next steps. In the meantime, please carefully review the forthcoming materials and resources as you consider the MVO.