Delta saw spike in employees withdrawing 401(k) funds during pandemic
By Kelly Yamanouchi, The Atlanta Journal-Constitution Troy Warren for CNT #Business Last year, as the pandemic upended the travel industry, more than 40,000 Delta employees took voluntary unpaid leave. Many of the company’s other workers saw their hours and pay slashed by 25%. But there was another data point that made it clear to the airline’s executives that their workforce needed help. In total, Delta employees — who numbered more than 90,000 before the pandemic — took about $1 billion from their 401(k) retirement plans in early withdrawals last year. The raiding of retirement funds was an indication that employees were in financial straits.…
