> doesn't matter, profits are UP!
>>62208625That pic is peak boomer kino.
>>62208611dont work there then. i wouldnt.
I haven’t heard of this being a trend. though a coworker did just tell me his LTI grant was reduced.
>>62208641Bottom left, idiot...
>>62208625fucking lol that's a grotesque image from only the most diseased narcissistic mind
>>62208651“Giggles & Grins ©” is part of the kino lol
>>62208611saving is not needed anymore
>>62208611I would assume they canceled MATCHING their employee's 401k contributions. Stopping their own employees from making their own contributions doesn't make sense unless they're having issues with the brokerage themselves.
>>62208611Good. 401k is a scam.
>>62209297401k brokerages all charge the company a hefty fee for the services the provide (accepting the direct deposits and offering shitty investment options with high management fees, making it nearly impossible to get money back out).
>>62209517((((employers)))) cut 401k contributions when they want cut payroll expenses without an outrage. wagies will bitch and moan about it, at least the ones who contribute to the 401k plan, but because it's not "bottom line" visible on their paycheck, it's psychologically easier for them to cope with.the admin fees associated with the 401k are immaterial -- and the employer still has to pay admin fees if they're temporarily pausing contributions rather than completely eliminating them.
>>62209297Doesnt this hurt the employer in the long run? 401k matching isnt a free gift or an incentive, right? I thought it lowered the companys overall tax bill.
>>62208625I want a source on this so I can buy one for the office
>>62209544Cutting 401k is a clear sign the company is entering a death spiral and anyone capable will leave.However, a certain percentage of employees MUST participate for the company to have a 401k. This is why they tend to be opt-out and meant to discourage companies from, say, offering the benefit only to salary and not lower level employees. As a 'customer experience firm' the bulk of their 'US' employees may not be participating forcing their hand.
