Sanjay Sakhrani - KBW
Okay. And just one follow-up, just to clarify a question on the discussion with the revenue growth guidance, just to be clear on Bob''s comments, you meant that they -- even if you posted 12% revenue growth for the next couple of years, it''s hard to get an average of 12% over the three years given where revenue growth is going to be for this year, right?
Martina Hund-Mejean
Absolutely.
Robert Selander
That''s correct and if I said something differently, I misspoke.
Sanjay Sakhrani - KBW
That may have been a misunderstanding. Just want to make sure. Thanks.
Barbara Gasper
Operator, I think we have time for one more question.
Operator
Sure. Your final question comes from the line of Christopher Mammone with Deutsche Bank. Please proceed.
Christopher Mammone - Deutsche Bank
Thanks. Thanks for squeezing me in. I guess just back to the severance charges and plans, maybe some more elaboration there. How many positions did the third quarter plan relate to, how many positions does the fourth quarter plan relate to and maybe expect that savings under each of those plans? And then I think you mentioned that you have a voluntary program that you just put in place. If results under that program don''t meet your expectations, could you turn that into an involuntary program?
Martina Hund-Mejean
Chris, let me just reflect on this. First of all, for the third quarter, we recorded charges of $31 million that was for roughly 150 people and our payback on this -- we estimate that it will be a little longer than about two years, okay?
That is not the whole story yet. The severance action, the involuntary severance action reached into the fourth quarter, so the third quarter actually had only a partial recording of the charges, so that will be related to involuntary actions in the fourth quarter another charge. Not prepared to talk about that yet.
And then, in addition to that, just this week we notified U.S. employees, as we said, of the voluntary program. It''s going to be yet -- it''s a voluntary program and typically with voluntary programs, it''s tough to size how this voluntary program will be taken up. So, I think it''s a little early for us to be making any remarks on that.
Christopher Mammone - Deutsche Bank
And I guess should we assume that these latest severance actions target all levels, all areas of organization, or is it targeted within certain departments and functionalities?
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