Caché, a clothing store for prom-goers, is going out of business. With hundreds of locations shutting down, and all the employees being laid-off, the CEO nevertheless took the opportunity to write a letter to the employees, assuring them not to worry, he’s going to just fine.
The memo was leaked to Gawker by a tipster who appears to be an employee of the chain. The tipster added that the CEO, Jay Margolis, drove the company “into the ground,” but thought that the hopeful letter would make everything better:
Any vacation time [employees] had accrued they didn’t get paid for…It’s not so much Jay fucking over all these people with his incompetent running of the company but it’s this letter he emailed to all…The entire letter is about him…What a pompous prick to fuck over “thousands of people that make up CACHE” and then write this letter essentially saying “don’t worry I’ll be ok.” Self absorbed narcissistic prick.
In the letter, Margolis says that, “though disappointed, I’m trying to stay positive about what’s next: Teaching, continuing my board work, traveling. And writing script for movie [sic] based on my CACHE experience.”
He notes that he was “grateful” for the opportunity to have “led this team.” He hopes that everyone is “staying positive about what’s next” and that, “I myself have been able to give you something valuable, learning-wise.”
If nothing else, this memo is certainly “valuable, learning-wise” — if you weren’t jaded about how irreparably screwed-up corporate culture is before, you are now!
Read Margolis’ letter below: