XOM Match on 401K contributions - now kaput for good - post regarding ExxonMobil Corp. layoffs

XOM Match on 401K contributions - now kaput for good

Oh - that lovely 7% match on your 6% savings - all tax-deductible by the Corp(se) and lead to the end of pensions. Even that is gone now as of this month. (Mgr stock give-away not impacted).

Only if you've been in the system for a while does that mean something - was a sweetener certainly for all the bending and bowing and so on. But that is now gone.

Let us see if Medical Coverage is next. Perhaps we'll go to the Curitiba model of 'vacation' time - which is simply time off for prior overtime, which is not compensated.

The next CEO (hopefully announced soon) is already a mo–n. But he's OUR mo–n.

Comment! It's anonymous!

5 replies (most recent on top)

If the employee is investing his 401K savings to XOM stock, why would not XOM like to match and contribute to investing towards it's own stock? Wait a minute, maybe XOM knows it's the worst investment anyway. Nevermind.

The funniest part - if most of your existing 401k was in XOM stock - it's as though they never had the 7 percent match in the past anyway. Your little 6 in was a 3 out, and the 7 was zero.

Counting the eggs in the basket as you cross this street!
Might as well text and drive.

Nothing new - it's Rockefeller science. Watch 'There Will Be Blxxd'. x's is o's.

CVX and RDS have terrible defined benefit pension plans. Match is higher but pension is lower. P

LOL once benefits are gone they don't come back

Will the match return when times are good again? XOM’s benefits are already garbage compared to competitors. CVX and RDS get 9/80 work schedules and up to 10% match

Thread regarding ExxonMobil Corp. layoffs

XOM Match on 401K contributions - now kaput for good

5 replies (most recent on top)

Post a reply