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Good Afternoon! I know everyone is probably wondering why we have called you here to this meeting today. I am not going to pretend that this is an easy announcement to make. Unfortunately, our business is experiencing very slow economic times and new competition is making things very challenging in our market. Over the past four months, we have done everything possible to try to increase our profit margins and develop a more competitive advantage over our competition. Regrettably, we have lost some valuable customers and have been unable to break even on our monthly financial statements. For the last six months, we have been operating in a negative, losing approximately $300,000 dollars per month. Our staff of Executive Managers has been working diligently to find ways to increase our profitability margin and reduce our current overhead costs. They have made many improvements in our operating procedures that will save hundreds of dollars over the long term; however, it is just not enough to offset our current state of deterioration. Therefore, as President and CEO of Widget’s international, I have no alternative but to downsize our current staffing levels in the areas that are experiencing a declining workload. Effective immediately, the 55 employees in this conference room will be on lay off status indefinitely.
Approximate Word count = 796
Approximate Pages = 3.2
(250 words per page double spaced)
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