Vice President, Broadway Inc.
123 Maple Street
Hudsonville, NY, USA 10711
January 15, 2019
414-7533 Non Road
Miami, North Dakota 58563
Subject: regarding your salary deduction
Dear James Smith,
As you are aware, the recent economic downturn has adversely affected Broadway Inc. To increase cash flow and limit layoffs, the company has decided that salary reductions are necessary at this time.
We are asking all employees to accept an 8% pay cut. We are asking to reduce your monthly salary from $4,000 to $3,680 beginning one month from now. Your current position and duties will remain the same.
During this period, we will continue to monitor the company’s financial situation. If the economic situation and the company’s performance improves in the next two quarters of the year, your former salary may be restored.
If you decide to decline this reduction in pay, you will be removed from your position effective one month from today, with severance pay.
We appreciate all the hard work you have put into your position at this company, and we do not want to lose you as an invaluable employee. Your understanding, support, and co-operation to help Broadway Inc. endure the current economic situation is greatly appreciated.