This is to bring to your kind notice that as it has been a difficult year for the Chambers
Corporation, I am sure that you are well aware about the loss of our three contracts with
the United Kingdom Army, due to the cut-back in defense appropriations. The loss of these
prestigious and lucrative contracts has hurt us substantially.
Therefore, in July, we had to make a major decision and were faced with a dilemma as
whether to let off some of our employees, or to explore all other possible avenues
of cost reduction, thus, keeping jobs intact. We are glad to inform you that we chose
the latter course.
Unfortunately, due to financial constraints we have been forced to eliminate our annual
Christmas bonus to each of our employees. This will be the first year since 1970 that we
will be unable to thank you in this special manner for your sincere hard work and loyalty.
We hope that 2007 is a prosperous year so that we will be able to reinstate our
traditional Christmas bonus policy. We believe that you will cooperate with us.