4 ms·
My employer had us go on a reduced work week for 5 weeks. thankfully we are back to full time now but our 401k match has been removed. No idea what will happen
by PHGamer 6y ago
My employer had us go on a reduced work week for 5 weeks. thankfully we are back to full time now but our 401k match has been removed. No idea what will happen later in the year but i bet merit increases get removed as well.
- rescripting 6y agoSimilar situation at my company. 401k match was removed (I doubt it ever comes back) and merit increases were cancelled. Thankfully bonuses are still happening but I think that's because they were approved by the board before the new year. I doubt they'll exist next year.
- dudul 6y agoSame story for me. 15% cut across the board for base salaries, merit increases cancelled, 401k match removed. Similarly bonuses were paid, but because they were reflective of 2019.
- bradlys 6y agoI'm just curious about this - but what kind of industry, job, and what kind of total compensation range are you starting at? I'm wondering if all these mentions of pay cuts are going to be something I should worry about. It seems farfetched for my current company (we're still hiring and growing) but I worry they would try to follow industry trends... So, I wonder if we're in the same industry. It feels like if the employer is even considering working remotely then they're more interested in cutting salaries too. Seems like if your employer has no interest in remote work and sees it as a purely temporary situation then there will likely be no salary cuts. Or am I wrong? (Presuming revenue is still okay)
- sethammons 6y agoouch on the 401k. That is one of my very important perks. Our place is not as good as many others, but still an important perk. If my current employer got rid of that, I'd strongly consider starting to look elsewhere.