I'd attack this from a different angle. One DTS package that loops through gathering the data and emailing the file for each user.

One of the first tasks in the DTS package would be to obtain a list of employees. Then subsequent tasks create the excel file and email it out. At the time the email is sent, you'd make a determination on whether the manager email goes out as well.

Take a look at this article which shows how to loop through a Global Variable recordset,

http://www.sqldts.com/default.aspx?298