31 Companies That Have Cut or Changed Their 401(k) Match

Wage Freeze & 401k match dropped

HA International, LLC a division of Hexion Chemical also froze wage increases, discontinued bonuses and dropped 401k match.

T. Merdian of IL @ Mar 30, 2009 12:56:52 PM

wage freeze and 401k match dropped

JB HUNT TRANSPORTATION, Lowell, AR. has frozen pay and 401k match and as of june you cannot sell back your vacation time. I have been with this company for almost 17yrs and haven't had a pay raise in the last 7 yrs. I was wanting to retire this year but i'm not going to be able to with this cut back.

Leonard Roberson of GA @ Mar 13, 2009 03:20:28 AM

Dead weight

Why is it that this always effects the "blue collar" workers, the ones who have invested their lifes to build the company. Industry would be NOTHING withour these employees, yet they are the first to get the axe.

Industries would be better off by getting rid of some of the dead weight (high dollar useless clowns and their mega buck severance packages which do nothing more than suck the life out of a company and drive it into ruin) and focusing more on the people who are the life blood, the workers.

There's been too many instances where a non-performing CEO have been rewarded a MEGA million severance package.

chas of NM @ Mar 13, 2009 01:24:22 AM

401K cuts

United Parcel Service March 2009 stopped 401K match program.

Mark King of PA @ Mar 12, 2009 22:39:25 PM

401K Match

Eaton Corporation will stop matching contributions on April 1, 2009. Lump Sum distributions were discontinued in March.

Diane Delgado of OH @ Mar 12, 2009 20:20:32 PM

401K Cuts

401K cuts - TVO North America

Paula of TX @ Mar 12, 2009 10:01:22 AM

Sears Matching Cut a Travesty

In 2008 Alwyn Lewis, the CEO of SEARS, left after the dismal performance of Sears holdings under his "leadership". He left with a 20 million dollar parachute. The rank and file lost the matching of their 401k. Whadda ya think about that? It's just not right.

chad smith of OH @ Mar 09, 2009 20:53:46 PM

Bummed

Ashland chemical has changed its contribution to company stock. In addition, they have cut over a thousand jobs, and cut pay for the rest of its employees IN ADDITION to freezing merit raises. Ashland made money every quarter. They just want the rank and file to pay for the expensive purchase of Hercules. SHAME ON ASHLAND!

Jackie of CT @ Feb 13, 2009 07:06:32 AM