Thursday, December 18, 2008

Motorola Got This One Wrong

They must have, right?

Motorola yesterday announced that they are getting out of the pension fund business (no surprise) but preserving benefits for those who already have earned them. No problem there.

They also announced that they will be suspending 401(k) matching payments. Who does that? I didn't realize they were that desperate and maybe they aren't. If they aren't then this was a very bad message to send to the market, not to mention current (loyal?) employees.

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