Dear _______________

This has been a difficult year for the________________ (name of the company). I am sure that you all know that the company has gone through _________________________

_________________ (reason).

In_____________ (month), we had a major decision to make. The question we were faced with was whether to let some of our employees go, or to explore all other possible avenues of cost reduction, keeping everyone’s job intact. We chose the latter course. Unfortunately, one of the policies we were forced to eliminate for this year, was our annual Christmas bonus to each of our employees.

This will be the first year since _____________ (year of foundation) that we will be unable to thank you in this special manner for your hard work, loyalty and faithfulness. We are all hoping that next year will be a prosperous year and that we will be able to reinstate our traditional Christmas bonus policy.