So we lost our 401K and some other benefits but the company had enough cash to buy back $550 million in stock this quarter. Do the lost benefits cost more than $550 million? I am shocked any employee is still positive about this company. How much lower can the benefits go to support the stock and for how long can that last?
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The competition returned to full salary today for people that were reduced 20%. Maybe we will see the 401k match return soon.
Simple explanation FB the c-suite and the board have significant holdings because they are compensated mostly in stock. This same group does not benefit from the 401K match. Propping up the stock price and their net worth over the cost of a match gives them the most benefit. And remember 401K match is only US based, most international employees still have contractual pension or retirement plans thanks to their labour unions and governments.
What do you guys think, corporate greed or is FB trying to keep the titanic from sinking?
Without propping up the stock with buy backs this would be in the 50’s by now. Feels not sustainable
None the less about the math, bad news. When someone can’t be honest and upfront about true facts and numbers, look out.
Great post, well done. Not sure on math I had 6 beers. But the 401k has to cost a lot more, if not that’s a sad thing indeed
Did FB have two calls today? Because the one I was on he said the 401K match would return ONLY when things get better. That could be a year or two or more from now depending on what we consider normal. Meanwhile he is spending 550 million a quarter to buy back stock. Do the math, if every employee contributed the MAX to their 401K and Fiserv matched it at 3% it would cost just over 21 million per year. So the company has enough cash to match 401K and still buy back 544 million in stock per quarter. Don't be a sheep, THINK FOR YOURSELF!!!
Frank already announced as early as today that both the 401k and the ESPP are returning so try again. Whereas our competitors LOWERED everyone’s salary by 20%. Why do you have things backwards, when a company does well so will it’s employees would you rather the company not do well?
Mixed analysts reviews. Some upgrades some downgrades. Feels like more synergy work upcoming
Wealth transfer from associates to shareholders
large firms do this, look at moving to a smaller firm or a firm less brutal? I am.
Yes corporations outsource and take your benefits to keep the shareholders happy. This is surprising how?