Sick of it
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Well, I am sure he would like to at least be made aware of such a significant threat to his business. In fact, I would say that not letting him know would be a significant professional oversight on your part. From there, it is his responsibility to fire her. If he doesn't, start looking for another job.
Grow up and tell him to fire the reason his entire business is tanking. If he can't take it, you can't save him or your job.
The owner will care when they are losing money.
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Well, I am sure he would like to at least be made aware of such a significant threat to his business. In fact, I would say that not letting him know would be a significant professional oversight on your part. From there, it is his responsibility to fire her. If he doesn't, start looking for another job.
Grow up and tell him to fire the reason his entire business is tanking. If he can't take it, you can't save him or your job.