Tuesday, February 10, 2009

McClatchy files form 8-K with SEC to freeze pensions and matching contribututions for Pruitt and other employees

Read it here.

The company announced last week it was freezing employee pensions and temporarily halting matching contributions to workers’ 401(k) savings plans. Those moves were to begin March 31.

I initially thought today's SEC filing applied to Pruitt only but now I'm thinking it applies to all employees. (I'm hoping some readers smarter than me can read the filing and explain it in simple English.)

From comments, today's filing applies to Pruitt and corporate execs.


Personal Politics said...

Frozen for Pruitt and all named excecutive officers- i.e " anyone who is required to be named in a proxy, or 10K"

Anonymous said...

Did we see this?
"Hand-to-hand-combat" Meetings to layoff employees?
Belo Gave Bonuses to Execs While Announcing 500 Job Cuts
A.H. Belo Corp. gave bonuses to its newspaper and corporate managers at the same time it announced a mass layoff of 500 employees last week, Robert Wilonsky reported today in the Dallas Observer.

This is "hand-to-hand combat," Moroney says in between meetings with employees. [Layoffs]

Anonymous said...


Glass houses, Kevin.