FedEx to Restore 401(k) Matches Jan 1, 2011
July 27, 2010
As Federal Express first indicated last November, it announced Monday that it will restore 401(k) matches. But the wait is still a long way off: The matches don’t start until Jan. 1, 2011.
FedEx began suspending its matches on Feb. 1, 2009, in the midst of the economic downturn and a steep falloff in package deliveries.
In his late 2008 announcement of the suspension to employees and investors, FedEx President and CEO Frederick W. Smith said the company was hit “by some of the worst economic conditions in the company’s 35-year history.”
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