From TheStreet.com we have Dupont Slashing Pensions.
Starting in 2008, DuPont's pension calculation will be reduced to one-third of its current level.
The Wilmington, Del., chemicals giant will also put new hires starting in 2007 into its savings plan rather than the pension and retirement plan. New workers will not receive a company subsidy for retiree health care or retiree life insurance.
"These steps are consistent with market trends in employee benefits and will enhance the company's business competitiveness," said James C. Borel, senior vice president, DuPont Human Resources. "The planned changes reinforce our commitment to help employees provide for a secure retirement."
(Ed: emphasis mine.)
Yep, you're definitely committed to providing for a "secure" retirement!
Sign o' the times!
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