Honda Cutting Pensions And Benefits

Sep 10, 2013

Honda is eliminating pensions for new workers and cutting benefits for current workers as part of a cost-cutting move.

The company says current workers will keep all of the benefits they have previously accumulated. New workers will be offered a 401(k) savings plan starting in January. Honda has more than 13 thousand workers in Ohio and 4 thousand U.S. retirees.