To: Mountain Financials Employees
From: Brittany Wilson, CEO
Date: May 9, 2013
Subject: AccountSoft Acquisition
First and foremost I want to thank each and every one of you for your service here at Mountain Financials. I am very privileged to be working with such outstanding employees. As you may or may not be aware, our company will be going through some changes in the near future. Unfortunately, our product AccountSoft has been substantially dropping in sales over the past two years and no longer aligns with the company's new mission. We were faced with a very difficult task of downsizing, which has forced us to relinquish our ties with AccountSoft. After careful deliberations and several months analyzing our financial situation; we felt it was in the best interest to save as many jobs as possible rather than keeping AccountSoft and risk massive layoffs. It was also very important that we deliver this news as soon as possible to allow for a smooth transition.
As part of the agreement with Accounting Support Services, Inc., our software developers will be transferring to Accounting Support Services' payroll starting August 1, 2013. Unfortunately due to the acquisition deal AccountSoft's sales and marketing team will no longer be with us as of September 1, 2013. For those who are part of the sales and marketing team for AccountSoft, we will do our best to assist with job placement and provide severance package to help with this difficult transition. Also for those affected by this decision, the Human Resource manager and I will be speaking with you one-on-one to discuss your options and provided assistance in any way that we can.
In addition to downsizing, we will also be working to create a cost effective plan for purchase orders in an effort to decrease product spending. Furthermore all upper level management will be taking a 5% pay cut to help alleviate this financial crises and avoid any further layoffs.
Mountain Financials will be having an open forum Friday, May 10th in the Sliver Pine room at 12:00pm to answer any and all question to the best of our ability. We will be discussing in detail what's next for the company. This will be your opportunity to ask any questions, so please take advantage. I also ask that everyone please respect those affected with this decision; I know that all of you will be professional and courteous during this difficult period. Again, I want to thank each and every one for all your hard work and dedication. If you should have any questions please contact the Human Resources department at 909-555-5000. For the sales and marketing team, we will do the best we can to assist you during this time and we wish you the best of luck.