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Enron Offers Some Stock Options, Others Get Pink Slip

As the dust begins to settle in the second coming of Ken Lay as CEO of Houston-based Enron Corp., there was no word at the end of last week as to who will become part of Lay’s brain trust on the top floor. Assuaging worries of analysts and investors, Lay and his executive team laid low last week, after acknowledging in previous days that Enron is offering some employees new stock options, which would be worth up to 5% of their salaries. However, Enron also plans to cut more than half of the 900 employees in its sagging broadband unit, moving 250 to other positions and offering severance packages to the other 250.

August 27, 2001

Enron Offers Some Stock Options, Others Get Pink Slip

As the dust begins to settle in the second coming of Ken Lay as CEO of Houston-based Enron Corp., Lay said the company will offer some employees new stock options at strike prices beginning this week, a one-time additional grant, which would be worth up to 5% of their salaries. He also said, however, that the trading giant will cut more than half of the 900 employees in its sagging broadband unit, moving 250 to other positions and offering severance packages to the other 250.

August 21, 2001