The purpose of this memorandum is to remind you all of S. N. Boyce’s Catalog Division’s closing at the end of this quarter. Over the past few years, our company has gradually brought in reasonable income but as of lately, our catalog division has been losing money, approximately $16 Million lost just last year. Due to more technological times, websites such as Amazon and our own site have been overtaking the catalogs position as the most successful income.
So, as you all know, since there will be no catalog, we will not need division employees anymore. The catalog division employs 52 people within six different locations. Approximately 40 of our 52 employee’s will be let go. But, to ensure that the employee’s gone will have a job to bounce back on, as your CEO, I will contact neighboring companies in need of employees. All of you will continue to be employed until the end of this quarter but when the time comes, I, as your CEO, and the Board of Directors will decide who stays and who leaves.
The company will not hire any employee after the quarter is finished The company will not allow any employee who is let go to continue their lives unemployed. Any employee let go without a job can report to the Board of Directors who will contact myself (will find a job) Any employee that leaves before the quarter is finished will not receive their monthly pay; due to the fact that our company respects all of our employees If you decide to leave, you must consult the Board of Directors who will contact myself and make the last decision
These policies will be strictly enforced in order to make sure that you and the company will be financially secure. Paul Butkevich, CEO, will have the managers of each division visit each and everyone of our 52 divisional employees and will file a report on how he or she feels the employee has contributed to the company and whether or not they deserve to stay, although all of you have been more than productive over the past few years. Please do not hesitate to contact me or the Board of Directors if you have any questions.