HOUSTON (Reuters) – The United Steelworkers union (USW) local representing workers at Exxon Mobil Corp’s <XOM.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.”
(Reporting by Erwin Seba; Editing by Nick Zieminski)