Update regression labeling process

PROCESS.md

@@ -249,14 +249,14 @@ When a regression is found:
 1. Label the issue properly, using the [team label](../CONTRIBUTING.md#team-labels),
    the [subject label](../CONTRIBUTING.md#subject-labels-wiki-container-registry-ldap-api-etc)
    and any other label that may apply in the specific case
-1. Add the ~bug and ~regression labels
-1. Evaluate the severity and add a [Severity label](https://gitlab.com/gitlab-org/gitlab-ce/blob/master/CONTRIBUTING.md#bug-severity-labels-s1-s2-s3-s4)
-1. Evaluate the priority and add a [Priority label](https://gitlab.com/gitlab-org/gitlab-ce/blob/master/CONTRIBUTING.md#bug-priority-labels-p1-p2-p3-p4)
-1. Schedule the issue in order to get it fixed as soon as possible, based on severity and priority, following these guidelines:
-  - If the regression is ~S1 or ~S2, set the current milestone
-    - If the regression was introduced in a RC of the current release, label with ~Deliverable 
-    - If the regression was introduced in the previous release, label with ~"Next Patch Release"
-  - If the regression is ~S3 or ~S4, it can be scheduled for later milestones
+
+
+1. Add the bug and regression labels
+1. Notify the respective Engineering Manager to evaluate the Severity of the regression and add a [Severity label](https://gitlab.com/gitlab-org/gitlab-ce/blob/master/CONTRIBUTING.md#bug-severity-labels-s1-s2-s3-s4). The counterpart Product Manager is included to weigh-in on prioritization as needed to set the [Priority label](https://gitlab.com/gitlab-org/gitlab-ce/blob/master/CONTRIBUTING.md#bug-priority-labels-p1-p2-p3-p4).
+1. If the regression is a ~S1 or ~S2, label the regression with the current milestone as it should be fixed in the current milestone.
+  1. If the regression was introduced in an RC of the current release, label with ~Deliverable
+  1. If the regression was introduced in the previous release, label with ~"Next Patch Release"
+1. If the regression is a ~S3 or ~S4, the regression may be scheduled for later milestones at the discretion of Engineering Manager and Product Manager.
 
 When a new issue is found, the fix should start as soon as possible. You can
 ping the Engineering Manager or the Product Manager for the relative area to