Werner Suspends 401K Contributions

Trucks and trailers.
We have DOZENS of intermodal containers sitting and stacked at our Jurupa Valley terminal 3-4 high looking like improvised condos because the market tanked.
We also have dozens of brand new reefers and tractors sitting at various terminals (minus registration,plates and IFTA),also because of current market conditions.
We bought too many d a m n PACCAR trucks(KW T-680 Next Gen and Pete 579 Epiq models) and they’re taking up much needed parking space- especially at Tucker(Georgia),DeSoto(Texas), Edwardsville (Kansas),Zionsville(Indiana) and Laredo.

 

Not good

 

On the plus side, now would be a great time to get a deal on shipping containers if you wanted to build a house or something with them.

 

It’s not ending, only their match. Employees can still contribute to it. And if anyone is counting on an employee match to make or break their retirement already hasn’t set themselves up correctly.

 

I remember when I worked for my old company this happened. Had the same thing go on. They made it about 1.5 years more before giving up on all the perks including insurance. Once they start, it is just a matter of time before they give it all back or do something major to fix the company.

I think they will need to do some major changes but time will tell if they are gonna pull out or not.

 

It would still be foolish for an employee to stop contributing because they ended the match. Even if they’re going to ride it out to the end they can contribute until their last day and roll it over into a new one. It’s not like the money goes away if Werner goes under.

 

Seen them advertised around me as "short supply" hurry and order today. I just laughed.

 

Gotta be tough working there. They offerd me .41 cpm about a month ago.

 

Jesus man, 5 terminals are holding trucks. Everyone needs to downsize don't they?