LOS ANGELES, Feb 20 (Reuters) - Coca-Cola Bottling Co Consolidated COKE.O said it will suspend matching contributions to its employee 401(K) plan starting April 1, according to a regulatory filing on Friday.
Prior to the suspension, the company provided a dollar-for-dollar match of up to 5 percent of an employee’s annual eligible pay.
The move comes as a deteriorating global economy has forced companies across industries to slash costs. (Reporting by Lisa Baertlein)
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