$3.25 will buy you a tall soy latte, but no 401(k) match.....

[marmar]

Starbucks not guaranteeing 401(k) company match in 2009: WSJ
By Wallace Witkowski

SAN FRANCISCO (MarketWatch) -- Starbucks Corp. will not guarantee a matching company contribution for employee 401(k) plans in 2009 as a cost savings measure, The Wall Street Journal reported on its Web site Tuesday, citing a letter to employees. Starbucks told employees it will switch to a "fully discretionary match" from a "fixed employer match" starting Jan. 1, meaning the company can decide whether or not to match contributions into the retirement plan, according to the Journal.


http://www.marketwatch.com/news/story/Starbucks-not-guaranteeing-401k-company/story.aspx?guid=%7B41000824%2D066D%2D418C%2D85B3%2DC31A1B946F4B%7D

[Selatius]

1. Which means from a worker perspective, you should assume you will get no contribution.

Starbucks needs a labor union shoved up its ass to make it right.

[antigop]

2. We are going to have to go through the labor movement all over again in this country. n/t

[dems_rightnow]

4. It's what happens

When your primary product is a $4 cup of coffee. Yeah, that's a place people can find to trim wasted money from their budgets. It may be the ultimate cyclical company.

[Wapsie B]

3. IIRC Starbucks is a red company anyway, so no surprises here.

I remember stories about them pulling crap on the employee heath insurance a while back. In some companies there is a qualification period for health insurance benefits, meaning you have to work so many hours in a set period to qualify for getting health insurance. Not getting fully paid-for health insurance mind you, just the ability to apply for and get group coverage through your employer. It's been a standard practice to pare down employee hours during that time so that many just miss qualifying for the ability to get group health insurance. Starbucks, although hardly a small company has done this for years. Don't even give people the dignity of caring for themselves and their families. Can anyone explain why this is such a great country any more?