Ohio’s Nationwide slashes 35,000 employees’ benefits
35,000 Nationwide workers’ vacation benefits eliminated.
Columbus, OH(JusticeNewsFlash.com)–Nationwide Mutual Insurance Company a group of large U.S. insurance and financial services companies based in Columbus, Ohio informed their 35,000 employees their vacation benefits would be drastically changed and reduced. As reported by Columbus Business First, Nationwide informed their workers in an April 8, 2009 memo they expect to save the company $16.5 million in 2009 by cutting employee benefits.
The corporate executive memo informed their work force they were cutting the number of earned vacation days employees could carry over from year to year. To add to the benefit slash sting, corporate managers are no longer allowing employees to buy additional vacation days and suspending referral bonuses. The insurance company leaders also disclosed on April 3, 2009, it was cutting 480 positions.
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