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Enron Mail |
-----Original Message-----
From: Hartfield, Rita =20 Sent: Thursday, July 12, 2001 12:15 PM To: Reyna, Margo Subject: Changes at EBS Rita Hartfield Phone: 713-853-5854 Cell: 713-304-5428 Fax: 713-646-4702 rita_hartfield@enron.net ----- Forwarded by Rita Hartfield/Enron Communications on 07/12/01 12:18 PM= =20 ----- =09EBS Office of the Chairman Sent by: EBS Announcements 07/12/01 11:10 AM = =09 =20 To: EBS Worldwide cc: Subject: Changes at EBS To: All EBS Employees Worldwide From: EBS Office of the Chairman Subject: Changes at EBS Date: July 12, 2001 Since its inception, EBS has seen dramatic changes in the communications=20 industry. The growth and opportunity anticipated in this industry two year= s=20 ago has significantly changed in the past nine months. While Enron remains= =20 committed to extending our business model into telecom, we need to quickly= =20 respond to these changes in the market to achieve our objectives. The Enron Corp. earnings release issued today states that we will be=20 adjusting the EBS business to better match the revenue opportunities. This= =20 means that we must reduce our overall cost structure and better focus our= =20 commercial efforts. To achieve this, we will take the following steps: EBS will become a business unit within Enron Wholesale Services. This will= =20 involve the integration of all EBS commercial support functions into those= =20 units within EWS, and will enable us to better manage the resources and cos= ts=20 of the support functions. All EBS commercial functions will be consolidated into the following units: Europe =01) headed by Matthew Scrimshaw Asia =01) headed by Anthony Duenner Americas =01) headed by Rich DiMichele We will consolidate the North American EBS origination teams into one group= ,=20 led by Stewart Seeligson. =20 North American trading and risk management will continue to report to Paul= =20 Racicot. Paul will also oversee the global portfolio from a risk managemen= t=20 perspective. Global Network Operations will continue to report to the EBS Office of the= =20 Chairman. All EBS asset positions will continue to be reviewed and repositioned to mo= st=20 effectively meet the future needs of EBS. The Portland office will be closed by October 1. Portland employees will b= e=20 advised by their supervisors of their relocation or redeployment status by= =20 July 27. These changes will affect many EBS employees through relocation,=20 redeployment, severance or movement to another part of Enron. We have not= =20 yet worked out all of the details of these changes, but your supervisor wil= l=20 apprise you of how this affects you as soon as possible, and no later than= =20 July 27.
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