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Although a recent staff discussion at EBN headquarters questioned whether an automaker (with industry profits down more than 30% by some estimates) halting 401(k) contributions was a “big deal” — since it comes as no surprise to our jaded ears — here you have it:
General Motors last week announced it will freeze its 401(k) match in the company’s ongoing effort to cut costs, and reports this week from Workforce Management show other large firms are likely to go the “monkey see, monkey do” route.
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