Tuesday, February 11, 2014

Weymouth Steel Corporation Harrison Memo


Weymouth Steel Corporation

To: Mr.Harrison

CC: Board of Directors, Shareholders, Media

From: Lynnette Lockwood

Date: 2/11/2014


On February 6, 2014 a memo will be released, signed by Mr. Weymouth, to the Board of Directors, all salaried employees, shareholders and media. This memo will inform all concerned that the salaried employees of this company will terminate employment and the reasons that this is necessary. The reasons cited are: the increase in competition, decrease in production orders, cost of installation of new processing machines, and the upgraded, required anti-pollution standards. 
The benefits that are available to laid-off salaried employees that have been in service one year or more are eligible for termination payment including reimbursement for unused vacation time for the year 2004-2005. Current health insurance will continue for one month after layoff and supplemental employment benefits (SUB) will not be available.
 Reassurance is expressed within the memo of the company’s regret for the decision of needed termination and has indicated that the Weymouth Company has hired a reemployment company to assist terminated employees with retraining programs and assistance in seeking future employment.
 The memo concludes with an expression of gratitude for faithful employee commitment and service. Future departmental meetings will provided to address any unanswered questions for the terminated employees.



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