Tragic Party City CEO cries on video call as he announces layoffs and nationwide store closures after 40 years in business

Party City CEO Barry Litwin has lamented on a recent video call that nearly 800 outlets of the company are coming to a close in the United States, and this is terrible bad news for the company, looking at the fact there are massive layoffs within the administration too, that will wind down operations.

Party City CEO breaks down on video call, here's what he said to employees

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According to a Mirror US' latest post, Litwin, with a heavy heart, stated that the days of the corporate employees on the job is virtually over now, and this was perhaps the hardest message ever, that he had to deliver to his employees throughout decades of doing business. Party City is a company that did steady business for nearly four decades, but latest hiccups in finance and losses compelled the company to begin downsizing, and has now finally taken the call to let go of its stores worldwide, which would mean that thousands of its employees at all levels, will now have to hunt for other jobs.

Litwin also tried to assure employees that he and the management tried everything that was possible within their powers to avoid this outcome, but they failed in the end, leading to this untoward decision. He also took the opportunity to thank the employees for their valued contributions to the company in all these years.

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FAQs:

Is Tragic City closing down?
Tragic City has decided to close down nearly 800 outlets in the country owing to the company' massive downsizing and layoffs.

Who is Party City's CEO?
Party City's CEO is currently Barry Litwin, who has recently stated that the company will be closing down soon, and its 800 outlets will be shut down nationwide.