Thread regarding Whole Foods Market Inc. layoffs

Regarding 401ks

I'm honestly not too informed about Fidelity's 401ks and I've noticed that it's gone down in value. I can only assume that's due to WFM stock's poor performance. My questions are:

  1. Is WFM's contribution dependent on my 401k being partially vested in their stock, the default blended fund?

  2. Can I call Fidelity and tell them to dump WFM in my portfolio and replace it with something else?

I'm really not sure how this works, but I also don't want to lose the money I've worked for because they're going to tank in the (possibly near) future.

Please, help!

by Anonymous180476
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Post ID: @OP+E1DJdSS
Comment! It's anonymous!

8 replies (most recent on top)

dont forget to see if you can get in on one of those class action lawsuits that wall street has going against wfm right now..they want to sue wfm for doctoring earnings reports..google it...

by sept du sem du jour
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Post ID: @2ip5+E1DJdSS

You better call them fast especially this week because after Nov 4th, you will take some serious beating at wall street. All these little moves they are making of job cuts, "investing in technology" won't do with Wall street. There will be a blood bath immediately after the call.

by Anonymous180836
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Post ID: @1GnN+E1DJdSS

Thank you for your replies! I'm going to have to see if I can call Fidelity sooner rather than later, when my schedule allows it. Thankfully, I haven't been laid off yet (or fired) but I'm feeling immense pressure in being one of the few leftovers. Tons of work, eyes constantly watching for the slightest thing not done to their liking, even though I am a good, knowledgeable worker with no marks. I'm feeling like the other shoe can drop at any moment, in more ways than one, and I'm also feeling like I might get royally screwed in January with no severance like the first round received. Moving away from WFM stock might take one of the points of pressure off, hopefully.

by Anonymous180717
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Post ID: @fK7+E1DJdSS

Fidelity has financial advisors and as part of their business is to give you sound advice. I moved my investment into a blended option and has been stable last two years.

by Anonymous180639
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Post ID: @x5N+E1DJdSS

good question flfallguy...im a long time team member with a ton of worthless shares..at one time i used to look forward to may to sell off some of these but the last couple years its been terrible..this benefit used to mean something but i remember when our benefits had more "real cash" than now...gainsharing?? what is that??

by scrimshaw
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Post ID: @G9j+E1DJdSS

I called Fidelity about two months ago and I told them to move all of my money including the funds that were in the 401(k) plan and move them to the strongest,more stable fund that they had therefore I have not lost any money.

Good Luck to you all with this.

by SOTM
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Post ID: @Cf7+E1DJdSS

Glad you brought that up. I'm curious about our now essentially worthless stock options. We have 90 days from termination to use them. Using some severance money to buy them out would be risky but may pay off if the company is sold or acquired. Anyone who better understands stocks want to chime in?

by Flfallguy
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Post ID: @yqE+E1DJdSS

Yes, contact Fidelity and they will assist you in trading out of company stock within your 401k.

by Anonymous180478
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Post ID: @JQJ+E1DJdSS

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