Layoffs Memo

Memo

To: FinancialSoft Employees From: Michael R. Maroun Subject: Company Mission Date:2ll4ll3

During the past few years, we have been trying our best to navigate through the recession that has affected our economy and ye haye done a good job of staying in busiiess during these difficult times. As you know, the software industry has suffered greatly, and our na!'snip software product has consistently declined in sales for the past two years and it no lJnger fits with the new mission of the company, which is to sell to small businesses and individuals, rather than larger accounting firms. These larger accounting firms make up 95%oof AccoutSoft's buyers.

\ro\ go'& \b"oh'o"' 'Vat lo$cal' We have had to T*t a veiy tough decision. The choice was to keep things as they are and lose

I tOOZ'-of our staff by the eni of the year or we could choose to let go ofjust 2%o of thestaff to ^r) *l t:u:,th. remaining 98Yo. After carefully considering all of the options, your loyalty and your

NL" -' families, we have decided to sell AccoutSoft to Account Support Services, Inclrporate$io keen i I

7,350 people from losing theirjobs.

\ fre, purt of this acquisition deal, the software developers will go to the acquiring firm but, K I t PPT.*ut ly, the sales and marketing staffwill be leaving our company. rc *itt be having i\tri$ividual conversations with each person affected by the layoffs to discuss the necessary details. 3 $ W-t dll offer support, guidance and any help that we can to help you through this transiiion. We- \ asked for a 60 day window before this takes effect to give everyone involved a chance to explore

all of their options.

We will be holding a general meeting today at 4:00 pm to go over the restructuring plans. Tomorrow you will meet with your managers to answer any questions you may hJvi regarding this situation. After the initial meetings, we will be conducting weekly strategy sessions=to cUl$, the new mission of the company and to plan our new business model so we can remain strong and competitive in this market.

Please contact the Human Resources Department if you have any questions or concerns. We wish the best of luck to the members of the sales and marketing staff and reassure them that we are here to help in any way possible during this time of transition.

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