Starbucks says will says will make 401(k) match for 2009
Starbucks Corp will make voluntary matching contributions to 401(k) retirement plans for its 2009 plan year, Chief Executive Howard Schultz said in a memo to employees on Monday.
The company, known for its generous healthcare, also said its employees would be paying slightly more for their health-care coverage as the company's costs continue to rise.
The 401(k) match payment will be made when Starbucks' fiscal year concludes in late September, a Starbucks spokeswoman said.
In December, the coffee chain told employees it would not guarantee making those contributions for 2009, and that it was switching to a fully discretionary match program from a fixed employer match as of January 1.
(Reporting by Lisa Baertlein, editing by Maureen Bavdek)
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