Without any formal announcement, DEC has begun its expected voluntary redundancy programme in the US, which it hopes will cut its 125,900 worldwide workforce by between 5,000 and 8,000 US employees. The company is offering those with less than two years of service 40 weeks’ pay plus continuation of their medical, dental and life insurance benefits for one year; the maximum benefit for the longest-serving qualifying employees is 104 weeks’ pay, and those with stock options exercisable after 10 years will be able to cash them in after five. If enough people take DEC’s money, the fourth quarter charge could reach $280m.
