re: Now will be the time private companies will begin phasing out 401k contributions

They pushed our annual raises back to Q3, and my guess is they won't award us our 2019 bonuses (go out at end of Q1).

quote:

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Companies are going to be forced to take massive cost reduction strategies.
In trying to save as many employees as possible, I imagine broad cuts will be made and I can see the first thing to go will be the company match on 401k contribution, which typically is about 3% or so of employees' salary.
Easy and somewhat painless way to get lean fast.
I anticipate companies to first announce that it's a temporary halt in matching, but will become permanent in the future.

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It really blows my mind that people don't believe that we (an employee) are just a necessary evil of our company. The above just confirms that. I'm sure there are companies' that have indeed entertained the idea.

Just remember, in the grand scheme of things, your employer doesn't really give a shite about you. Especially if you work for a large corporation. Always keep that in the back of your mind.

That's not how the modern business environment is structured. People are looked as assets. When a company cant afford that asset, they separate like they would with a building they cant afford. It is the employee's responsibility to be in a constant state of self improvement to hedge against this move. It really benefits the high achievers.