Great Lakes Garments has been fulfilling the divergent needs of individuals and businesses over the years. Our success as a company is tied to the resilience, diligence and commitment of our staff in the provision of services to our clients. Because of this, our company has stood tall above its competitors with strong local and spreading international appeal.
In the recent months, the company has registered declining sales. This decline is attributed to the slowdown demand for goods by wholesalers. Wholesalers form a significant market segment for businesses because they buy goods in large quantities (Bernard 410). Thus, the centrality of wholesalers in the success of the company cannot be gainsaid. It follows that the decline in sales, and increasing interest payments and pension tax have put pressure on the business.
In a bid to ensure smooth operations of the business and enhance sustainability. The company has taken a raft of measures to curb the expenses and bring the business back on its feet. In line with the company’s policies, a pay cut of 10% will be placed on the senior management of the company to avoid the possibility of borrowing. Between 25 and 50 employees will not return to work following the economic crisis that company finds itself in. It is in the best interest for the company to keep high motivated and productive employees. In this regard, the entrenchment of employees will be done on the basis of productivity. The company wishes to assure hardworking employees that it would retain them.
Great Lakes Garments wishes employees who will be affected by this radical change a smooth transition into other spheres of work. The company hopes that experience gained from this dynamic working environment will give you a competitive edge in your subsequent duties. Meanwhile, the employees who will remain should increase their commitment and dedication to their work to increase the company’s overall productivity.
Work Cited
Bernard, Andrew B., et al. "Wholesalers and retailers in US trade." The American Economic
Review 100.2 (2010): 408-413.
