Dear Team,

I wanted to take a moment to express my heartfelt gratitude for all of your hard work and dedication during these past few months. As many of you know, it was with great sadness that I had to make the difficult decision to downsize our team due to unforeseeable circumstances.
I want to say how much I appreciate each and every one of you, both personally and professionally. The contributions each of you made to our team have been invaluable, and I am extremely proud of the work we accomplished together.
While I understand that this news is difficult for all of us, I want to assure you that this decision was made after much consideration and with the company's best interests in mind. Please know that the skills and talents you brought to our team will not be forgotten, and I will always keep you in mind for future opportunities.
I want to wish each of you the very best in your future endeavors, and I believe that you will find success wherever life takes you. Please do not hesitate to reach out to me if you would like to stay in touch, and know that I will always have the utmost respect and admiration for each and every one of you.
Once again, thank you all for your hard work, dedication, and commitment to our team. It has been a privilege to work alongside each of you, and I look forward to the possibility of working together again in the future.
Sincerely,
[Your Name]