Caterpillar decided to freeze its pension plan back in 2010 in order to cut costs. This begs the question, what will Caterpillar do to save their dividend in 2020? Fortune 500 companies have been scrambling to protect their dividends and keep their shareholders happy. The results have been generally negative for workers at those companies.
There has been a consistent economic trend which shows that when a recession hits corporations will decrease or suspend benefits. We witnessed this in the 2001 recession when General Motors, Charles Schwab, Goodyear Tire & Rubber, & Ford all decreased or suspended their company match programs. The same happened in 2008, with Forbes reporting that