Exxon Baton Rouge refinery union to seek talks over 401K change: sources

Commodities & Futures
© Reuters. A sign is seen in front of the Exxonmobil Baton Rouge Refinery in Baton Rouge, Louisiana. © Reuters. A sign is seen in front of the Exxonmobil Baton Rouge Refinery in Baton Rouge, Louisiana.

HOUSTON (Reuters) – The United Steelworkers union (USW) local representing workers at Exxon Mobil Corp’s (N:) Baton Rouge, Louisiana, refinery and chemical plant are seeking talks with the company over the upcoming suspension of the employer contribution to their 401K plan, said sources familiar with the matter.

Exxon told employees on Tuesday it would stop in October making the employer contribution to retirement savings plans.

The USW local at Baytown is also seeking talks with Exxon over the change.

In regard to the Baton Rouge union’s plans, Exxon spokeswoman Ashley Alemayehu said, “Exxon Mobil’s total remuneration remains competitive despite the suspension.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Let’s block ads! (Why?)

Commodities & Futures News

Leave a Reply

Your email address will not be published. Required fields are marked *