Companies stopping 401k matches

It's about coming to an agreement, and sticking to it. Sure, situations change for both employee and employer. But the idea is that in exchange for a compensation package, the employee works for that company. Go back on your word, and there's no trust. No trust, morale goes down, and the company is worse off for it.

 

solid.

 

Nope. Lots of folks, myself included, don't get anything.

 

Companies started offering health and retirement benefits, IIRC, as an enticement when there was competition among them for qualified employees. That competition is all but gone now; it's been replaced by competition for jobs.

How anyone left in the newspaper industry is prone to trusting their employer is a mystery to me. You trust at your own peril.

OTD, if you limit yourself to newspapers, then you may very well be stuck taking what you can get.

 

Product quality remains inextricably tied to qualified labor in most industries, including newspapers. A company dilutes quality at its own risk. Use of an increasing supply of under- or just adequately qualified workers rather than competing for the best qualified workers, likewise, carries inherent risk. I remain of the opinion that news industry, like many shareholder-driven industries, is learning this lesson the hard way. I call this phenomenon greed.

 

Hey man, I don't really disagree. Still, despite the HR mantra of "it's cheaper to keep people than to recruit new ones," corporate actions indicate otherwise.

 

aGREED.

 

I was referring to most industries, not just newspapers. From the late 40s through the 70s and even the 80s, you had workers staying at one company for life. Loyalty worked both ways. The company took care of you in exchange for you working hard for the company.

For the last 20 years or so, there has been no loyalty. When a company doesn't feel loyal to its workers, and vice versa, everyone suffers.

 

Well certainly, the mindless corporate ducks will follow the lead one....


...and the debts of problems for the working class will mount for Mr. Obama.

 

Same with me. Until today. Now it's 50 cents on the dollar, up to 6%.

 

Yeah, I applied for one of those brain surgeon jobs, but they said no because I didn't stay at a Holiday Inn Express.

 

Stuck with the Tall Pines Motel because of a chintzy expense account, eh?