this post was submitted on 18 Aug 2023
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Sandisk has been a wholly owned subsidiary of Western Digital since 2016.
WD's share price is up ~25% this year...
They're saving a ton by not matching our 401ks anymore
Sorry, I don't know the term. What is a 401k?
It's a way for companies to act like they're helping you retire instead of providing a pension.
Can't tell if sarcasm. It's a retirement plan that employers will match up until a certain point, In lieu of the pension plans previous generations were offered.
No, I was being genuine. We have compulsory superannuation here in Aus. Employers pay in an amount equal to 11% of your wages, it goes up to 12% in 2025. It applies to every wage earner, full-time, part-time, contract and casuals.
Wow, that's great. We only get like 3-4% on average, and that requires us to put in 6-8%
But WDC is down almost 10% in the last 10 days
Good point. I was looking from when this problem was first discovered vs when this news hit as you did.