Originally published Wednesday, April 22, 2009 at 12:00 AM
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Weyerhaeuser to suspend matching 401(k) payments
Weyerhaeuser will temporarily suspend matching payments in its 401(k) retirement-savings plan for all employees.
Weyerhaeuser will temporarily suspend matching payments in its 401(k) retirement-savings plan for all employees.
The suspension will take effect May 1, the Federal Way-based lumber maker said Tuesday in a filing with the Securities and Exchange Commission.
Weyerhaeuser, the second-largest nongovernment owner of timberland in the U.S., has sought to reduce costs amid declines in its lumber, pulp and home-construction businesses. The company last month said it would shut down mills in Oklahoma and Oregon, affecting 307 workers.
Weyerhaeuser stock rose $1.60, or 4.9 percent, to $34.18 Tuesday.
Copyright © 2009 The Seattle Times Company
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