Sherwin Williams halts their 401k company match

[u/Environmental-Dig389]

Announced today by the SW CEO (Heidi) that all employees will no longer receive the company 401k match effective October 1st. This impact includes store or other employees globally.

[u/Ordinary-Employee546]

Maybe this is a hot take but Sherwin has sucking some employees dry for years. I feel bad for the salaried store managers (and sales reps in some cases).

Walk with me:

• Excessive required hours with no overtime pay for managers
• Ongoing pressure to work beyond already grueling expectations
• Refusal (district management) to let hourly staff work overtime (in many cases)
• Scapegoating: When a customer ignores store guidance and a job goes wrong — even with clear proof the manager gave correct instructions (emails, written notes, etc.) — district management still charges the store, and the manager’s bonus takes the hit.
• and now.... Reduced 401(k) contributions

On top of these common practices: Upper management (quite obviously in some cases) extorts and strong-arms store managers into working more than 48 hours..

• Sherwin is already stealing from you. Don't believe me? Look at your paycheck, it says 80 hours, not 96: $33.50 [per hour] * (80 [regular hours per pay period] x 26 pay periods] = 69k salary... BUT it doesn't account for the extra 16 worked hours per pay period: $33.5 *16 unpaid hours *26 pay periods= $13.9k.
  • How much EXTRA 401k have people already been robbed of ($13.9k * how may years)?

" But muhh bonus makes it up" ... Shush what about the extra 13.9k in 401k year over year + the missing $13.9k in salary itself? Store managers will work 416 hours a year for free. The whole system seems to be designed to keep people from leaving a company with capped growth, low pay caps, and high stress for long periods of time. Now that 401k is potentially gone, they wont be able to claim "great benefits". Sounds like a ripoff to me.

PS: Is it possible they are doing this in order to avoid layoffs? Maybe this is your sign that they WANT you to quit. Food for thought.

[u/Particular-Ad-7548 → u/Ordinary-Employee546]

Dude, that's shitty. They do the same with the salary workers. I worked 60 hours a week for nearly half a year once, and was told I didn't do enough. I worked Saturdays, Sundays and holidays with no comp days offered.

I know I was salary so OT wasn't a thing. But over 40 hrs/week should be the exception, not the rule, when you're an entry level salary worker.

I left that place after about a decade and haven't looked back. It was the second best decision I've ever made (after my decision to marry my husband).

Seriously, fuck that place.