TO: All Muscle Galore Employees
FROM: Manager Mr. Scott Smith
RE: Changes to the holiday bonuses due the slow economy
First of all I want to thank you all for your daily work, which makes this company so special and outstanding in this highly competitive sector of fitness equipment. We had continuously growth during the last seven years and ended every year with a profit, which allowed us to pay holiday bonuses for the last five years. To our management it was self-evident to grant generous bonuses to our workforce and show them also financially our appreciation for them.
Unfortunately the sales declined about 15 percent due to the economy crisis in 2008 and the following slow economy. This brought us, the management of Muscle Galore, to the difficult decision to suspend the holiday bonuses for this year. Our projections show a recover of the economy for the next year, which should be noticeable in a increase of sales of about 20%.
We look forward to end this year satisfying and start motivated in a new business year.