Black & Decker rescinds pay cuts, resumes 401(k) match

11/13/2009 | American City Business Journals

Black & Decker's improved financial condition will allow it to reinstate a company match for 401(k) retirement accounts and rescind employee and executive pay cuts. The economic downturn forced the company in April to cut executive pay 10% and non-executive salaried pay 5%. Last week, Stanley Works announced plans to buy Black & Decker for $4.5 billion.

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