Motorola’s Christmas gift to employees – No 401(k) from now on

Motorola has announced that it would be suspending its contributions to 401(k) worker retirement plan, in addition to stopping pay increases and reducing salaries of two of its top executives Greg Brown and Sanjay Jha by 25%.
"The sustained downturn in the global economy requires that we take these difficult but necessary steps," Brown and Jha said in a joint statement, adding that they would continue to implement measures to conserve cash and cut expenses.