Company Downsizing You Are the President of Technik Inc.Global Competition and Reduced

question 63

Essay

Company Downsizing
You are the president of Technik Inc.Global competition and reduced market share has sent profits on a downward spiral which will result in employee layoffs.Nearly 10 percent of the employees will be laid off,effective in one week.They will receive two weeks severance pay,accrued sick leave pay,and career consulting from the human resources department.Write an interoffice memorandum announcing this negative organization news.

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Definitions:

Valid Offer

A proposal made by one party to another intending to create a legally binding agreement, subject to acceptance.

Accepted Properly

Refers to the act of formally agreeing to the terms of an offer or contract in a manner that meets all legal requirements.

Voidable

Describes a contract or agreement that may be nullified or cancelled by one of the parties involved.

Written Contract

A formal agreement between two or more parties that is written and signed, serving as legal evidence of the terms and conditions it stipulates.