After a shocking news, it seems like Friday, December 20, was a TOUGH day at Party City headquarters, Chile.
Barry Litwin, the CEO of the firm, fired all corporate employees without providing severance compensation two days before the holidays.
Why? Party City is shutting all of its locations after 40 years as the biggest retailer of party supplies in the US.
CNN reports that Party City’s CEO said the firm is “winding down” in a heartbreaking video chat. Specifically, operations were immediately stopped.
CEO Litwin told corporate employees that their benefits would expire when the firm went out of business in addition to the layoffs.
According to reports, the Chief HR Officer sobbed when he described that section. Litwin said that Party City was unable to avoid financial difficulties in spite of its “best efforts.”
