fw : netco benefit rate projections john ,
the more i look at these comparisons , the more i ' m convinced we have to agree an interim subsidy to let folks down gently and / or a salary adjustment . i think we will lose a very high number of people from this transaction if we don ' t make some accommodation here .
i ' ll call you later today to discuss .
i also need to touch base with you on your salary comment . i need to clarify what you mean by salary freeze . i understood you were ok with us promoting a few people ( 50 or so ) in next 4 / 6 weeks ( so long as we run list passed you first ) and in this regard i would expect to adjust their salaries . we have traditionally raised commercial support salaries ( below vp ) in line with cola ( based on performance but typically around 3 - 4 . 5 % of payroll ) each january and there certainly will be some expectations we will have to deal with .
regards
david
- - - - - original message - - - - -
from : jarrett , anthony
sent : monday , january 07 , 2002 8 : 22 am
to : davies , neil ; slone , jeanie
cc : oxley , david ; rahaim , christian ; fitzpatrick , amy ; cash , michelle
subject : netco benefit rate projections
attached below is an excel workbook containing benefits projections for 2002 . the first tab contains enron rates including flex dollars , the 2 nd tab is citigroup rates conservative estimate , and the 3 rd tab is citigroup rates maxing out the life and ad jarrett , anthony
cc : davies , neil ; cash , michelle
subject : fw : netco - benefits comparison
i sent him back a reply saying , as a minimum , if we see " hardship " for the less than $ 100 k base people , we will want to raise their salaries 3 - 5 % .
david
- - - - - original message - - - - -
from : donnelly , john l [ hr ] [ mailto : john . l . donnelly @ ssmb . com ]
sent : friday , january 04 , 2002 4 : 48 pm
to : oxley , david
subject : re : netco - benefits comparison
we have this issue in every deal we do , the benefit coverage is good
overall , but employees pay more for the coverage . it ' s income based which
mitigates impact to lower paid and we find higher paid focus on total comp
and not benefits . benefits are the one thing we keep the same for all of
citigroup and we don ' t want to do anything with subsidy or anything else .
happy to discuss futher how we market overall comp . and ben . philosphy to
deal with the benefits .
- - - - - original message - - - - -
from : oxley , david [ mailto : david . oxley @ enron . com ]
sent : friday , january 04 , 2002 2 : 46 pm
to : donnelly , john l [ hr ]
cc : cash , michelle ; rahaim , christian
subject : fw : netco - benefits comparison
> >
john ,
i am worried about comparison between your and our benefits costs . perhaps
you could review and let me know if you agree we have a problem . my
recommendation is that we consider a subsidy or payrise for our people who
may otherwise suffer a hardship in meeting the additional costs of your
medical / dental premiums .
david
> - - - - - original message - - - - -
> from : jarrett , anthony
> sent : friday , january 04 , 2002 1 : 35 pm
> to : oxley , david
> cc : davies , neil ; slone , jeanie ; fitzpatrick , amy ; rahaim , christian
> subject : re : netco - benefits comparison
>
> your correct on the costs . i will be in a meeting most of the afternoon
today , but i should be able to have you a spreadsheet on monday showing some
different scenarios on how netco employees paychecks would be affected
paying for their own benefits based on their salary range and coverage tier
( employee only , employee spouse , employee slone , jeanie ; fitzpatrick , amy ; rahaim , christian
> subject : re : netco - benefits comparison
>
> tony ,
>
> i ' m not sure if i read this correctly but seems to me medical costs are
significantly higher under citi groups arrangements . i ' ve asked neil and
jeanie to work with you to illustrate if they are . i may need to get them to
subsidise for first 12 months the difference , if i can prove some hardship .
> - - - - - original message - - - - -
> from : jarrett , anthony
> sent : wednesday , january 02 , 2002 5 : 45 pm
> to : oxley , david ; davies , neil ; slone , jeanie ; fitzpatrick , amy ;
wheeler , terrie ; schultea , kathryn ; rahaim , christian ; oquinn , kari ; clyatt ,
julie ; philpott , charles
> cc : joyce , mary ; barrow , cynthia ; jones , robert w . - hr exec ; cash ,
michelle
> subject : netco - benefits comparison
>
> david , below is an initial draft of our current benefit plans compared to
ssmb ' s plans . the main difference is employee ' s for ssmb pay for benefits
out of pocket instead of having flexdollars cover a portion of the cost .
>
> > >
>
> thanks , tony
>
>
>
this e - mail is the property of enron corp . and / or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient ( s ) . any review , use , distribution or disclosure by
others is strictly prohibited . if you are not the intended recipient ( or
authorized to receive for the recipient ) , please contact the sender or reply
to enron corp . at enron . messaging . administration @ enron . com and delete all
copies of the message . this e - mail ( and any attachments hereto ) are not
intended to be an offer ( or an acceptance ) and do not create or evidence a
binding and enforceable contract between enron corp . ( or any of its
affiliates ) and the intended recipient or any other party , and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise .
thank you .
fw : netco benefit rate projections
john ,
the more i look at these comparisons , the more i ' m convinced we have to agree an interim subsidy to let folks down gently and / or a salary adjustment . i think we will lose a very high number of people from this transaction if we don ' t make some accommodation here .
i ' ll call you later today to discuss .
i also need to touch base with you on your salary comment . i need to clarify what you mean by salary freeze . i understood you were ok with us promoting a few people ( 50 or so ) in next 4 / 6 weeks ( so long as we run list passed you first ) and in this regard i would expect to adjust their salaries . we have traditionally raised commercial support salaries ( below vp ) in line with cola ( based on performance but typically around 3 - 4 . 5 % of payroll ) each january and there certainly will be some expectations we will have to deal with .
regards
david
- - - - - original message - - - - -
from : jarrett , anthony
sent : monday , january 07 , 2002 8 : 22 am
to : davies , neil ; slone , jeanie
cc : oxley , david ; rahaim , christian ; fitzpatrick , amy ; cash , michelle
subject : netco benefit rate projections
attached below is an excel workbook containing benefits projections for 2002 . the first tab contains enron rates including flex dollars , the 2 nd tab is citigroup rates conservative estimate , and the 3 rd tab is citigroup rates maxing out the life and ad jarrett , anthony
cc : davies , neil ; cash , michelle
subject : fw : netco - benefits comparison
i sent him back a reply saying , as a minimum , if we see " hardship " for the less than $ 100 k base people , we will want to raise their salaries 3 - 5 % .
david
- - - - - original message - - - - -
from : donnelly , john l [ hr ] [ mailto : john . l . donnelly @ ssmb . com ]
sent : friday , january 04 , 2002 4 : 48 pm
to : oxley , david
subject : re : netco - benefits comparison
we have this issue in every deal we do , the benefit coverage is good
overall , but employees pay more for the coverage . it ' s income based which
mitigates impact to lower paid and we find higher paid focus on total comp
and not benefits . benefits are the one thing we keep the same for all of
citigroup and we don ' t want to do anything with subsidy or anything else .
happy to discuss futher how we market overall comp . and ben . philosphy to
deal with the benefits .
- - - - - original message - - - - -
from : oxley , david [ mailto : david . oxley @ enron . com ]
sent : friday , january 04 , 2002 2 : 46 pm
to : donnelly , john l [ hr ]
cc : cash , michelle ; rahaim , christian
subject : fw : netco - benefits comparison
> >
john ,
i am worried about comparison between your and our benefits costs . perhaps
you could review and let me know if you agree we have a problem . my
recommendation is that we consider a subsidy or payrise for our people who
may otherwise suffer a hardship in meeting the additional costs of your
medical / dental premiums .
david
> - - - - - original message - - - - -
> from : jarrett , anthony
> sent : friday , january 04 , 2002 1 : 35 pm
> to : oxley , david
> cc : davies , neil ; slone , jeanie ; fitzpatrick , amy ; rahaim , christian
> subject : re : netco - benefits comparison
>
> your correct on the costs . i will be in a meeting most of the afternoon
today , but i should be able to have you a spreadsheet on monday showing some
different scenarios on how netco employees paychecks would be affected
paying for their own benefits based on their salary range and coverage tier
( employee only , employee spouse , employee slone , jeanie ; fitzpatrick , amy ; rahaim , christian
> subject : re : netco - benefits comparison
>
> tony ,
>
> i ' m not sure if i read this correctly but seems to me medical costs are
significantly higher under citi groups arrangements . i ' ve asked neil and
jeanie to work with you to illustrate if they are . i may need to get them to
subsidise for first 12 months the difference , if i can prove some hardship .
> - - - - - original message - - - - -
> from : jarrett , anthony
> sent : wednesday , january 02 , 2002 5 : 45 pm
> to : oxley , david ; davies , neil ; slone , jeanie ; fitzpatrick , amy ;
wheeler , terrie ; schultea , kathryn ; rahaim , christian ; oquinn , kari ; clyatt ,
julie ; philpott , charles
> cc : joyce , mary ; barrow , cynthia ; jones , robert w . - hr exec ; cash ,
michelle
> subject : netco - benefits comparison
>
> david , below is an initial draft of our current benefit plans compared to
ssmb ' s plans . the main difference is employee ' s for ssmb pay for benefits
out of pocket instead of having flexdollars cover a portion of the cost .
>
> > >
>
> thanks , tony
>
>
>
this e - mail is the property of enron corp . and / or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient ( s ) . any review , use , distribution or disclosure by
others is strictly prohibited . if you are not the intended recipient ( or
authorized to receive for the recipient ) , please contact the sender or reply
to enron corp . at enron . messaging . administration @ enron . com and delete all
copies of the message . this e - mail ( and any attachments hereto ) are not
intended to be an offer ( or an acceptance ) and do not create or evidence a
binding and enforceable contract between enron corp . ( or any of its
affiliates ) and the intended recipient or any other party , and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise .
thank you .
