Have any employees outside of the USA received cuts to their compensation? The 401k / savings plan is a US only program defined by US federal tax laws. Have non US employees had their compensation cut 7% like we have here in the US?
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When did they cut the COL? I'm in the Bakken and we thought that it would happen here first.
In Europe we're still expecting decisions to be announced. However, since, according to a common perception in the US, we are “Socialists” (except maybe in the UK) the company pension plan doesn't have the same importance vs. the state pension.
A little bit of inclusion and diversity... 😀
In the Permian our cost of living adjustment was also eliminated. Houses are much more expensive here than in Houston and my bank doesn't care that the oilfield is no longer booming.