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Bimbo, Vice-President
Corporate Communications
Great Lake Garments, Inc.
2800 North Sheridan Road
Lake Bluff, Illinois 60691
As soon as the decision for laying off is made, all department heads of the
corporation should be informed personally in a joint meeting, stating the reasons
for the layoffs, the impact of those layoffs in the operations in each department
and the common policy to be observed, while gathering information and
feedback from each manager. All involved should observe confidentiality until
public disclosure.
2. Press conference
As we are a listed company, we therefore must abide with the Regulation Fair
Disclosure Act from SEC. The information should be given to all stakeholders at
the same time, but I recommend that the length of such information should be
tailored to each group. So, as a first step for disclosing information, a press
conference or a press release should be drafted and presented to the public as
soon as possible by the corporate communications responsible and it should
focus on the following:
3. Letter to shareholders
As soon as the press conference has been held, a personal letter from the
President of the corporation should be send to all shareholders, in which the
reasons for the layoffs, the benefits of such action, as well as the full financial
impact of such measures should be clearly identified. The letter should focus on
the following points:
A personal letter signed by the President of the corporation for the downsized
employees should be send at the same time as the letter to the shareholders
and should not arrive to them in hand more than 48 hours after the press
conference. The legal schedule for the termination of contract should also be
followed and this should be done in collaboration with the Human Resource
Department. The letter should stress out the following points:
Sincerely,