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The worst thing about a struggling company is the petty, demoralizing measures management takes to cut costs. Save a few million in 401k costs but waste eight
by jseip 13y ago
The worst thing about a struggling company is the petty, demoralizing measures management takes to cut costs. Save a few million in 401k costs but waste eight figures in decreased productivity, increased employee turnover, and lower morale overall. This seems shortsighted.
- ericd 13y agoThe worst part is it doesn't appear to be struggling, but the CEO painted the only two options of dealing with $7M in increased healthcare cost as either passing it on to the employees, or decreasing some benefit.
- GFK_of_xmaspast 13y agoIf management is going to do something to anger the workforce, it's in their interest to get workers angry at each other instead of management.
- waterlesscloud 13y agoNo, it's really not.
- pmorici 13y agoI'm confused as to how this will actually save them any money over time. Won't it just encourage everyone who wants to quit to wait until the 401k payout date to the extent possible and then do it all at once?
- throwaway1979 13y agoPeople don't always optimize. I've known two people in this situation who left money on the table. Even if you quit on Jan 30'th, that's one month of money left on the table.
- jonknee 13y agoThey could fire a lot of people before the end of the year...
- aNoob7000 13y agoI completely agree with you. If I were an employee of AOL, I'd personally start looking for a way out. When a CEO of a company becomes so petty as to point out the medical problems of a few employees (exactly two), he deserves zero respect or loyalty from his employees.