TWT Cuts 401 (k) Matching
While some members of TWT were concerned that the paper may not make payroll, FishbowlDC is told that employees were paid on schedule today. However, Times VP of HR Sonya Jenkins sent a memo this afternoon informing employees that “effective November 13, 2009 (today), the matching contributions under The Washington Times 401(k) Savings Plan and Supplemental Survivor & Retirement Plan (SSRS) will be suspended.”
Jenkins said in her memo, “we regret having to take this action but believe it is the prudent thing to do in light of current economic and industry conditions.”
Memo
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