Economic Downturn – Employee Salary Roll-Backs
As you know, we are currently experiencing a severe __(recession/economic downturn/etc.)__ in our country and as a result, our company has __(briefly describe what your company has experienced – i.e. seen a significant decrease in sales/etc.)__. We are currently doing all that we can to keep all of our staff employed during this difficult period.
Unfortunately, this means we’ve had to make the tough decision to roll back salaries. And it is, therefore, with regret that I must inform you that effective __(date)__, your salary will be rolled back __(by __% / to $amount per month/year/every two weeks/etc.)__. It is never easy to take a pay cut and we understand how difficult this news must be for you. But better this, than having to lay you off completely.
These are trying times for us all and everyone has to pull together to weather the storm. As we make the necessary adjustments for the times we currently live in, we continue to remain positive that better days lie ahead. We’re all looking forward to those future days when economic conditions recover and allow salary ranges to be adjusted back to their former amounts.
In the meantime, we thank you for understanding that we all must contribute to the efforts of keeping everyone actively employed.