Savings

OK Kerry -- here is the high level summary

My net cuts for Global Services -- across the DPR team, Global Counterparty, Contracts and OPM -- by Business unit

EGM 900,000
EIM 300,000
EA 100,000 -- less dpr service -- no global standards reporting etc
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$ 1,300,000 total cut -- pure salaries -- not loaded with benefits or any overheads/bonus or anything

You will have to net off severance for about $400,000 worth of salary that is 8 employees ($224k for 8 people at avg $28k per person) the rest are contractors or positions that were budgeted for which we will not fill, or people who will be re-deployed into EES I assume that HR gave you some average rate

Kerry will assume you will add the rest on to this

EES there is no net savings -- for every single person that I am severing -- we are re-deploying someone from EIM or EGM into the role. But there will be severance costs for another 20 ($560k at avg $28k per person) people who's salaries total about $ 900,000 --- this should be the same severance that was avoided in EIM or EGM -- as their people are moving over to fill these spots

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