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re: Boss man just let us all know 401k matches are suspended

Posted on 7/2/20 at 5:26 am to
Posted by Oilfieldbiology
Member since Nov 2016
42270 posts
Posted on 7/2/20 at 5:26 am to
My company stopped matches, no cost of living raise, and no sales goal bonuses.

We also payed off a few thousand people so yeah I’m happy I have a job
Posted by SmellslikeKevinBacon
Louisiana
Member since Dec 2012
6210 posts
Posted on 7/2/20 at 5:28 am to
quote:

ours have been halted since march....


Same here
Posted by kywildcatfanone
Wildcat Country!
Member since Oct 2012
139402 posts
Posted on 7/2/20 at 5:51 am to
Good luck. I've been waiting for my company to suspend 401K contributions or matches or something.
Posted by theronswanson
House built with my hands
Member since Feb 2012
3257 posts
Posted on 7/2/20 at 6:14 am to
quote:

Rest assured Fauci, Broome, Destroya, JBE are all getting full pay, full benefits.



Republicans control the White House and half of Congress but everything is the fault of Democrats? What a sad existence you live in.
Posted by Vidic
Member since Jan 2010
9513 posts
Posted on 7/2/20 at 6:19 am to
quote:

Just know you sacrifice saved a couple 80 year olds


Oh no he has to sacrifice a few dollars so other people can live! Some of y’all lack of respect for human lives is astounding
Posted by jbgleason
Bailed out of BTR to God's Country
Member since Mar 2012
20146 posts
Posted on 7/2/20 at 6:26 am to
quote:

There is no need anymore to be married to a company since pensions don't exist anymore.


Most employees hold this attitude yet they complain when companies look out for themselves. It is a two way road. If the days of employees being invested in their companies and staying there long term are gone, why would you expect the company to sacrifice and look out for the workers?

I wasn’t around for it but I miss the days of working for one company your entire career.
Posted by theronswanson
House built with my hands
Member since Feb 2012
3257 posts
Posted on 7/2/20 at 6:31 am to
quote:

If the days of employees being invested in their companies and staying there long term are gone, why would you expect the company to sacrifice and look out for the workers?


Employees stopped being invested in their companies BECAUSE companies stopped looking out for workers. If a company goes out of its way to help and reward workers (which is 100% their choice) employees would become far more loyal to their employer.
Posted by OceanMan
Member since Mar 2010
23213 posts
Posted on 7/2/20 at 6:32 am to
quote:

You should ask them what you're getting in exchange for forfeiting this

Half days on Friday? If they're making you sacrifice you should get some benefit from it.



Great idea. Make demands out of a struggling company. Very smart.
Posted by Capital Cajun
Over Yonder
Member since Aug 2007
5618 posts
Posted on 7/2/20 at 7:08 am to
My wife’s company did that a month ago. Bright side is you still have a job.
Posted by HoustonGumbeauxGuy
Member since Jul 2011
33489 posts
Posted on 7/2/20 at 7:17 am to
I work for a very large global Energy consulting firm, and we had the same thing happen as of June 1st.

Posted by Damone
FoCo
Member since Aug 2016
32966 posts
Posted on 7/2/20 at 7:56 am to
Companies stopped caring about their employees and started caring about nothing but the bottom line. Coupled with the fact that wages have stagnated and pricing of consumer goods have risen, many companies can’t even afford to treat employees right (at least pay-wise) if they wanted.
Posted by Damone
FoCo
Member since Aug 2016
32966 posts
Posted on 7/2/20 at 7:56 am to
Did your boss take a pay cut?
Posted by Sailor
Member since Jun 2020
45 posts
Posted on 7/2/20 at 8:07 am to
I've been furloughed from my company since the end of April. Obviously with that my 401k has been completely suspended. My ability to contribute to it as well as the company match.
Posted by Klark Kent
Houston via BR
Member since Jan 2008
74850 posts
Posted on 7/2/20 at 8:10 am to
this is depressing to hear from so many of you.

i guess i should be more thankful. my company said the very last thing they'll sacrifice is dividends and employee benefits.
Posted by jlovel7
NOT Louisiana
Member since Aug 2014
24078 posts
Posted on 7/2/20 at 8:12 am to
quote:

Did your boss take a pay cut?


No idea. I have a few bosses I’m sure my local one did. Who knows about the top level. We’ve been having some financial issues for about 18 months or so at least from our Corporate office. Thankfully our local office has been over performing so that’s likely why we were safe this time. We also have a few employees out on different leaves that I’m pretty sure are covered by our disability insurances. They’re definitely not being paid otherwise because we don’t offer extended leave that you haven’t accrued already. So in theory at least they seem to have identified us as successful and didn’t give us the axe. Just trying to save and work hard.
Posted by Mootsman
Charlotte, NC
Member since Oct 2012
6226 posts
Posted on 7/2/20 at 8:14 am to
They have to find the cash to pay for all those new diversity and inclusion webinars somehow.
Posted by Meatball
Member since Sep 2009
5139 posts
Posted on 7/2/20 at 8:14 am to
quote:

Man, that sucks....hope my company doesn’t hear about that...


Agree
Posted by Rhino5
Atlanta
Member since Nov 2014
30963 posts
Posted on 7/2/20 at 8:14 am to
My question:

Is it really legal for employers to require employees to wear a mask? And if they don’t wear a mask they can be terminated. That seems illegal. Dress attire is one thing but working all day in a hot mask that’s rough to breathe in seems claustrophobic and tough to breathe in.
Posted by Jp1LSU
Fiji
Member since Oct 2005
2542 posts
Posted on 7/2/20 at 8:22 am to
quote:

Company I was with for 20 years laid of 51 people last week. Did the same on the 401K.

But we will all he okay if we keep wearing a mask.


Tune in next hour when we watch the Rose Garden Victory Lap. Unemployment down 2% and 4 million new jobs created. At this pace it will be down as low as it was when Obama was president by November.
Posted by yatesdog38
in your head rent free
Member since Sep 2013
12737 posts
Posted on 7/2/20 at 8:23 am to
Companies can pretty much do whatever they want except fire you for any reason other than the color of your skin, your sex parts, and your religion. If you won't wear a mask and they require that then hit the road.
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