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[Date]
Mr. Tarikul Hasan Chowdhury
[Employee ID: ]Manager
Production, Sourcing & Supply Chain ControlNID No: 2617272808574
Subject: Retrenchment Notice.
Dear Mr. Tarikul Hasan Chowdhury,
We regret to inform you that due to unavoidable business circumstances, including the loss of a major buyer and the resulting financial constraints, Fast Value Global (BD) Ltd. is required to undergo a workforce reduction in accordance with Section 20 of the Bangladesh Labor Act, 2006 (Amendment in 2018).
As part of this restructuring process, your position at Fast Value Global (BD) Ltd. has been identified for retrenchment, effective from [Last Working Date].
Retrenchment Compensation & Benefits
In compliance with Bangladesh labor laws, you will receive BDT 410,400 (In Word: Four Lac Ten Thousand and Four Hundred Taka Only) as compensation which is equivalent to 5 months' wages calculated based on your service tenure and compensation in lieu of notice as per labor law.
Final Clearance & Exit Process
You are required to complete all formalities, including:
Returning company assets (e.g., ID card, laptop, documents).
Clearing any outstanding obligations.
Signing and delivering acknowledge receipt of benefits.
Should you require any assistance during this transition, please feel free to contact [HR Contact Name] at [HR Contact Email/Phone].
We deeply appreciate your contributions to Fast Value Global (BD) Ltd. and wish you success in your future endeavors.
Sincerely,
[Authorized Signatory][Designation]Fast Value Global (BD) Ltd.