Write an email about a party cancellation

Nobody likes a party more than Edgar Dunkirk, the president of Rockabilly Enterprises, a record label. In the early days, the company's holiday parties were legendary for their splendid food arrangements and outstanding entertainment (featuring the label's popular singing stars). Employees performed elaborate skits and competed for valuable prizes. These days, however, sales of the company's country and rockabilly recordings are down. In fact, Dunkirk recently had to lay off 150 of the company's 350 employees, the most severe austerity measure in the company's history.

Because so many employees had to be let go, including some who had helped Dunkirk found the company a decade ago, the president has decided that a lavish party would be inappropriate. He has therefore canceled the traditional holiday party. As Dunkirk's vice president of human resources, write an email communicating the news to Rockabilly's employees.