There will be layoffs on Friday 15th of December, I was let notified yesterday
that I was on the list. So expect more to come, so that the Execs can get their bonuses from the money they recoup of the folks they layoff.
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Oops, I meant employer deferred.
401k is a program where earnings can be siphoned to a special account and taxes deferred until money is withdrawn during retirement years. While many companies match a certain percentage of funds the employer contributed, there is no law requiring such action.
According to Wikipedia a 401K match is this: https://en.wikipedia.org/wiki/Employer_Matching_Program
Looks like a recipe for disaster (and bad US laws) whereas the superannuation rules in Australia are much clearer on how contributions are taxed.
It's only a matter of time until DXC and all corporations stop matching any 401(K) contributions. The American government as it is constituted today and the strings that pull it want its workers to work to the bone until they hit 50, at which time they'd prefer you die or fall off the face of the earth.
The system is rigged.
Can someone pls tell me what is this 401k match?
in my country for example, by law, if anyone is wfr'd he takes 2 months salary for every year
what is the 401k then:)
They can take away past matching 401k money if you are not vested.
I know someone that was cut dec 15th on Friday. Very sad
My DXC 401k (ex HPE) was managed through Hewitt (not sure if this is true for ex-CSC employees though).
Anyone know who the financial institution is for DXC 401k? Can't find any info on it.
After you leave the company there is a six dollar monthly "maintenance fee" that is withdrawn from your 401k. I've never seen this with any of the major financial firms. Seems pretty sketchy to me.
"CLARIFICATION" post must be by someone who doesn't understand how 401k matches work to begin with. Of course they can't take away previous years!
CLARIFICATION: No 401K company match for 2017 year only if you’re not employed by December 31st. You will receive company match for any previous years you’ve participated if you’re vested
Is the 401k matching thing even legal if you are already vested?
Congrats DXC, you have officially won the “shadiest company award” !!!!!
Oh and by the way, Merry Christmas to all the upper management, enjoy the bonuses you will receive for ruining so many lives. I understand that layoffs are part of the corporate landscape but at least treat people with class and respect. The whole process is a joke.
It is not just stateside... I and a group of us were let go yesterday, from Puerto Rico.
So much for near-shoring.
And no, their is no 401K match for me.
What country?
What region is this time? or is it another worldwide bloodbath? :(
Very Simple. If you aren't an employee on Jan 1...no match.
How many? And are they going to deny your 401K match since they didn't allow you to complete the year?