The announcement that First Security Corp. will release the results of its VISION process redesign program has prompted rumors about layoffs at the company.

Recent news reports regarding terminations of First Security employees in Albuquerque were prompted by the notification of a limited number of senior managers that their positions will be affected by VISION, said Scott Ul-brich, chief financial officer."While a very limited number of senior level managers throughout First Security will learn as early as next week that VISION has impacted their positions, most employees whose positions will be affected by our process redesign will not be notified until the week of Dec. 14," he said.

First Security intends to announce the results of its VISION program at 2:30 p.m. on Thursday, Dec. 14, during media conferences held simultaneously in Salt Lake City, Boise and Albuquerque at locations that will be announced later.

Ulbrich said work on the VISION program won't be completed until Dec. 14, just before the announcement.

"We have undertaken not to make any external announcements until all of our employees know of the VISION impact on them, if any," he said.

Ulbrich said the focus of First Security's process redesign has been on providing enhanced service to customer through improved processes and operations, and has not been centered on reducing positions.

"The reason we undertook a program like VISION was to bring us closer to our customers. We need to streamline and improve our processes to provide enhanced customer value and meet the increasingly sophisticated needs of today's banking customer," Ulbrich said in a new release.

As the aims are accomplished, some positions may be lost through the elimination of duplication and redundancies in the organization, he said.