Business briefs: Wal-Mart switching t...

Business briefs: Wal-Mart switching to 401(k) match

There are 1 comment on the Monterey County Herald story from Oct 9, 2010, titled Business briefs: Wal-Mart switching to 401(k) match. In it, Monterey County Herald reports that:

Wal-Mart Stores Inc., the largest U.S. private employer, plans to end profit-sharing contributions in February, replacing them with matches to employee 401 retirement plans to bring down benefits costs.

Join the discussion below, or Read more at Monterey County Herald.

CTR

Hoschton, GA

#1 Oct 19, 2010
Wal-Mart is no longer going to contribute to profit sharing for their associates, are they going to take all the money out of the associates profit sharing accounts or freeze them at their current value and allow associates to cash in their accounts or transfer the profit sharing into 401k accounts. If Wal-Mart does what they tipically do, they will take back all the money in the proit sharing account and leave their associates hanging with nothing for their years of service and dedication. Wal-Marts history of associate relations since Sam died is one of the worst in history. This is just another example of how little Wal-Mart cares about the people that made them what they are and how they are simply profit minded. If the world new how wal-mart operates on the inside and not just what wal-mart tells the world, they would have very few investors. Just remember, what goes up, must come down and Wal-Mart is no exception.

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