(This tale ended up being updated on Oct. 22 with extra details in 5th and sixth paragraphs.)
With its assault that is latest on expenses, Wells Fargo & Co. is eliminating the 401(k) your your retirement account match it generates for workers making $250,000 or more, in accordance with company sources.
Wells Fargo spokeswoman Beth Richek stated the bank that is capital-pressed “evolving” its U.S. payment and benefits system with a higher increased exposure of supporting lower-paid employees.
“While our company is changing the way the company contributes to the 401(k) policy for some, the overwhelming most of workers will continue to be entitled to the 6% business matching share, and we’ll continue steadily to provide a thorough advantages system for many employees,” she had written in a email.