Our People

To achieve a successful restructuring, every employee group, including management, is reducing their total salary and benefits. Our targeted cost savings are based on a comprehensive review of our operations, our competitive position and the financial structure we need to enable us to exit reorganization with positive momentum.

In addition to the changes that affect individual workgroups, we are moving to a common program for health and retirement benefits across all workgroups, including:

• Medical coverage for active employees
• Medical coverage for active employees when they retire
• Pension benefits