Cut 401(k) matches. Several large companies, including General Motors and Frontier, have stopped contributing to employees' 401(k) plans. Another 4 percent of companies plan to eliminate the match in the next year. "Whether or not your employer is able to match your contribution, it is still of the utmost importance for American workers to continue contributing," says Tom Ruggie, founder and president of Ruggie Wealth Management in Tavares, Fla. "Investors must not forget that the compounding growth of a 401(k) over time will allow them to grow additional assets off of savings they continue to put in." Many companies, including Ford Motor Co. and Charles Schwab, eliminated their 401(k) matches during the last recession, but returned them later when the bottom line improved. Let's hope that employers return these valuable benefits and perks after this downturn as well.

Layoffs
Hiring freezes
Higher health costs
Travel restrictions
Training cuts
Canceled parties
Salary freezes
Reduced merit increases
Pension freezes

Pension freezes. Many companies no longer want to bear the burden of providing traditional pensions for employees. Sometimes companies stop allowing new employees to join the plan. Other firms promise to pay the benefits already accrued but don't allow workers to earn any additional benefits. Some 11 percent of companies have already frozen their pension plans and an additional 4 percent plan to do so in the next year, Watson Wyatt found.

Layoffs
Hiring freezes
Higher health costs
Travel restrictions
Training cuts
Canceled parties
Salary freezes
Reduced merit increases
Cut 401(k) matches

Reduced merit increases. Don't count on getting a large holiday bonus or merit pay increase next year either. Approximately 28 percent of employers have already reduced their merit pay budgets because of recent financial events, Watson Wyatt found. Among those employers, the projected raise is now 2.5 percent for 2009, down from 3.7 percent.

Layoffs
Hiring freezes
Higher health costs
Travel restrictions
Training cuts
Canceled parties
Salary freezes
Pension freezes
Cut 401(k) matches

Salary freezes. Workers accustomed to getting an annual cost-of-living raise may be out of luck next year. Four percent of companies have already frozen salaries and 12 percent more plan to, Watson Wyatt found. "As a cost-saving measure, it can have a fairly significant impact in terms of managing increases in cost," says Laura Sejen, global director of strategic rewards at Watson Wyatt. "Typically, it would be for 12 months, and then the organization would revisit the decision."

Layoffs
Hiring freezes
Higher health costs
Travel restrictions
Training cuts
Canceled parties
Reduced merit increases
Pension freezes
Cut 401(k) matches

Canceled parties. Most industries aren't feeling very jolly this year. About 19 percent of companies have either downgraded or canceled the holiday party, and an additional 18 percent plan to, Watson Wyatt found. A handful of companies--mostly manufacturing firms--even plan to institute mandatory holiday shutdowns to save on operating expenses.

Layoffs
Hiring freezes
Higher health costs
Travel restrictions
Training cuts
Salary freezes
Reduced merit increases
Pension freezes
Cut 401(k) matches

Training cuts. Helping employees to develop advanced skills usually helps the bottom line of a company. But on-the-job training is expensive and time intensive, and immediate results are not always realized. Some 18 percent of companies plan to reduce or eliminate training for employees, Watson Wyatt found. Keeping your skills up to date on your own, however, could help keep you employed.

Layoffs
Hiring freezes
Higher health costs
Travel restrictions
Canceled parties
Salary freezes
Reduced merit increases
Pension freezes
Cut 401(k) matches

Travel restrictions. Extravagant company travel may be a thing of the past in many industries. Some 34 percent of companies have already added or increased restrictions to the company travel policy, and an additional 25 percent plan to do so soon, Watson Wyatt found. Some companies are cracking down on nonessential travel and increasing Internet and teleconferencing as an alternative to meetings in person. Many employees are also being encouraged or required to use public transportation for local trips and book economy flights for necessary travel.

Layoffs
Hiring freezes
Higher health costs
Training cuts
Canceled parties
Salary freezes
Reduced merit increases
Pension freezes
Cut 401(k) matches