Dear [Employee's Name], RE: NOTICE OF RETRENCHMENT We regret to inform you that due to unforeseen circumstances, [Company Name] will be implementing a retrenchment exercise. This letter serves as formal notice of your retrenchment from your current position as [Employee's Position]. The decision to retrench employees has not been taken lightly, as we fully understand the impact it has on individuals and their families. However, after careful consideration and thorough evaluation of our financial situation, we have come to the difficult conclusion that retrenchment is necessary in order to ensure the long-term sustainability and growth of the company. Your retrenchment will take effect on [Effective Date]. We assure you that this decision is not performance-related, but rather a result of the challenging economic climate and business circumstances beyond our control. We are committed to treating all retrenched employees fairly, in accordance with the labor laws and regulations of the Virgin Islands. As per the labor laws of the Virgin Islands, you will be entitled to receive retrenchment benefits. These benefits include but are not limited to: 1. Severance Pay: You will be entitled to [insert number of weeks/months] of your basic salary for each year of completed service with the company. 2. TLC (Termination, Leave, and Income) Fund: Employees who have been continuously employed by the company for at least [number of years] will be eligible to withdraw funds from their TLC accounts. This includes accumulated annual leave and other applicable benefits. 3. Notice Period: You will be required to serve a notice period of [number of weeks/months] in accordance with your employment contract. However, should you wish to expedite this process, we are open to negotiations regarding the notice period. In order to facilitate a smooth transition, we will provide you with outplacement support, including CV writing assistance, job search guidance, and access to workshops to enhance your employability. Additionally, we will provide a letter of recommendation upon your request to assist you in your job search endeavors. We understand that this news may come as a shock and evoke a range of emotions. If you would like to discuss this matter further or require any clarifications, please do not hesitate to reach out to HR department by [insert contact details]. Our HR representatives are available to offer support and answer any questions you may have during this challenging period. We sincerely thank you for your contribution to [Company Name] and wish you all the best in finding new opportunities. We truly hope that this retrenchment is a temporary setback and that you will soon embark on a fulfilling and successful career journey. Yours sincerely, [Your Name] [Your Position] [Company Name]
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.