Con-Way, the San Mateo shipping company, announced taking several actions to “reduce expenses and maintain a strong cash position in response to the declining economy.”
The company is suspending its contributions to employees’ Read the rest of this entry »
Motorola added to the growing mix of ways companies are trying to preserve cash during the current economic downturn by discontinuing their matching of employee contributions to the company’s 401(k) pension plan, beginning Jan. 1, 2009, according to a filing it made with the SEC. And on March 1, future benefit accruals and compensation increases will cease for participants under plan as of Feb. 28. (Vesting in the plan will continue for those not already fully vested.)
Given that step, the company also decided to modify Read the rest of this entry »
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