Important Company Update

Jimbo sent the following email to Beats by Dre employees earlier today. Fellow Beats by Dre-ers, I regret to inform you that due to unforeseen circumstances, we are unfortunately forced to lay off 5% of our workforce. It is with a heavy heart that I must deliver this news to you. I would like to set the record straight and assure you that the truth is that this decision was not made lightly and can be attributed to forces outside our own control. We are not blaming ourselves or any of our own employees; rather, it was outside sources such as an unforeseen spike in the price of chairs that has made this difficult decision necessary. The financial strain of acquiring chairs has been immense, and we can no longer bear that burden. It is with a deep sense of sorrow that I have decided the best course of action is to lay off 5% of the company immediately. I understand that this news comes as a shock and an unwelcome surprise, and I thank you for remaining understanding and supportive throughout our journey. Sincerely, Jimbo Iovinos