Ascend Shortchanges Stagnito Employees

One aspect of M&A that is often overlooked by those of us that follow it is what happens to the daily lives of the employees that are affected by the moves. Some lose jobs, others get promoted, and many pass through relatively unscathed. In the case of the Stagnito employees, scathed might be more apt.

Word from employees at Stagnito is that Ascend has decided to retroactively not match its employees’ 401k contributions in 2007. For those people who contribute 10-15% of their incomes to their 401k, this is a huge financial blow, and one that was certainly not planned for.