From,
(Insert or write the name of the sender)
(Insert or write the job title of the sender)
(Insert or write the name of the company)
(Insert or write the Date)
To,
(Insert or write the name of the recipient)
(Insert or write the job title of the recipient)
(Insert or write the name of the company)
Subject: Termination letter for employment
Dear (insert or write the name of the recipient),
This letter is sent to you to confirm the results of a recent evaluation by [insert or write bank name] on its operational requirements and to let you know what this outcome means for you.
Due to a lack of funds and work, the organization believes that the investment banker position is no longer needed. Unfortunately, it means your job will be terminated. We apologize for any inconvenience this may cause.
The duration of the layoff is indefinite and must be regarded as permanent. This decision is based on business considerations, does not represent your performance. We would be pleased to send you a recommendation letter.
You will be given a notice period of [insert or write duration] based on your [insert or write a number of years] of service. Therefore, you will be terminated from your position with [insert or write bank name] on [insert or write date].
According to your contract, if your job ends due to redundancy, you will receive redundancy pay [insert or write amount]. Based on the number of years of service, this is your [insert or write duration] pay. Until the last day of employment, you will entitle to any unpaid wages, accrued benefits, and severance money.
If you have questions or issues, [insert or write the name of HR executive] will be happy to answer them. Please contact him/her to arrange your termination process and final package as soon as possible.
Unfortunately, our current issues have required this layoff, and we genuinely regret this. Thank you for your important contribution during your time with this organization. We wish you success in your future endeavors.
Sincerely,
[Insert or write your name]
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