Chapter 3 Letter - Jeremy Pflug

Chapter 3 Letter - Jeremy Pflug - their insurance coverage...

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Joe Harrison 1234 Weymouth Rd. Morehead, KY 40351 02:27 Weymouth Steel Corporation 1234 Weymouth Rd. Morehead, KY 40351 Weymouth Steel Corporation Employees: First and foremost, I would like to thank every employee here at Weymouth for their hard work each and every day. As you all know, there have been many changes occurring due to economic challenges and pressure coming from other competitive businesses. In order for the company to succeed in the future, we must streamline our company today. Therefore, we regret to inform our employees that many cutbacks will begin within the month and nearly 2,000 positions will be affected as all areas of the company urgently need to cut costs. We will do everything in our power to help soften the blow. Salaried employees with the acquired years of service are eligible for termination pay, as well as
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Unformatted text preview: their insurance coverage will be continued for one month after layoff. Also, any unused vacation time will be paid in full. Hourly employees will have their Supplement Employee Benefits readily available to them upon termination. Alternately, employees who remain with Weymouth Steel Corporation will be receiving salary increases and improved benefits. Provisions for retirement, vacations, medical and dental care, life insurance and stock ownership will be posted as soon as possible. If there is anything more that we can be of assistance to you, feel free to stop by and speak with a member of management and we will assist in any way possible. Sincerely, Joe Harrison President cc: Jim Weymouth...
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