Rumor has it that the company will not match 401k contributions anymore starting in 2016. Has anyone heard this ?
This is a big part of the compensation package.
On the other hand they are borrowing money to pay the dividend to keep shareholders happy and the stock from sliding even further.
Would not be a smart move long term. Chevron is already not competetive relative to peers for compensation. This would be a move in the wrong direction. Especially if the petrotech supplement is eliminated next year as many expect.
don't know the future,but I wish I did,,,,should I buy sell or hold...they just paid the dividend Friday...im gonna just ride it out...I might buy more,but I just keep putting my money in the bank for now..probally more layoffs in the future,,,gorgon,wheatsone and bigfoot need to start helping,,,i don't think the government would let a mobil exxon chevron merge or buyout happen unless the politicians could get a piece of the cake first..
Yes, reducing the 401k match is rumored and very likely to take place starting in 1Q or 2Q 2016. It won't be eliminated, only reduced from 8% to a lower percentage, perhaps between 4-6% or a variable percentage based on quarterly company profits. I heard this from a reliable contact in Corporate Finance back in April. So far, it's on the table, no definite decisions yet.