Category: More

Will Lockheed Martin End Its 401(k) Matching Contribution?

Lockheed Martin had already begun cutting benefits before the Coronavirus took its toll on the world economy. According to Barron’s, “Lockheed Martin (LMT) finished freezing its defined-benefit pension plan on Jan. 1, 2020”. Since the pandemic hit, Lockheed Martin has certainly had to make adjustments. According to the Fort Worth Star-Telegram 2,500 employees were forced

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Will Halliburton Suspend or Reduce 401(k) Matching?

Halliburton is in the process of cutting costs to help cope with the current recession caused by the pandemic.  Coronavirus took a toll on the entire economy, but it came down on the oil & gas industry especially hard. So far, most of Halliburton’s cost cutting efforts have come from layoffs. According to the Houston

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Will Pfizer Stop Matching 401(k) Contributions?

Pfizer has been teasing cost cutting efforts since before the pandemic hit. Back in January Albert Bourla, CEO of Pfizer, commented that in regards to spending cuts the company, “better move faster than slower”. Bourla referenced “enabling functions” as the space where he sees the most room for cuts. He considered finance, HR, and digital

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Will Merck Suspend or Reduce 401(k) Matching?

Merck has taken a hit in terms of 2nd quarter profits after seeing a boost in the first quarter. According to The San Diego Union-Tribune, Merck announced that 2020 prescription drug sales will drop by about $1.7 billion. The pandemic is actually hurting Merck because many patients with chronic conditions have been kept away from

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Merck? How Corporations Protect Their Dividends

As a recruiter who has placed people at many fortune 500 companies, I’ve seen first hand what corporations choose to prioritize in a recession. A few months ago the Coronavirus crisis ravaged the American economy, and ever since Fortune 500 companies have been scrambling to protect their dividends and keep their shareholders happy. Merck, like

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