Sherwin-Williams suspends 401(k)-matching amid weak sales

[UpInArms]

Sep. 04, 2025

CLEVELAND, Ohio -- Sherwin-Williams announced plans to temporarily suspend the company’s matching contributions to employee 401(k) plans, citing weak sales amid economic and tariff headwinds.

In an internal communication obtained by cleveland.com, CEO Heidi G. Petz attributed the decision to several factors, including high mortgage rates that have pushed housing demand to near-historic lows and inflation that has reduced DIY demand for three consecutive years.

Tariff policies have also decreased industrial demand and increased costs for the paint and coatings manufacturer, Petz’s letter stated.

“Sherwin-Williams is not immune from these conditions, which have lasted longer and been more impactful than anticipated...Unfortunately, customer demand remains soft, and in some areas, it’s getting worse,” Petz stated.

The suspension, which goes into effect Oct. 1, affects the company’s current policy of matching 100% of the first 6% of eligible employee 401(k) contributions. The company implemented similar suspensions during the 2009 financial crisis and 2020 COVID pandemic, eventually restoring full matching as conditions improved, Petz said.

…more at:

https://www.cleveland.com/news/2025/09/sherwin-williams-suspends-401k-matching-amid-weak-sales.html

I just saw this and think everyone should know the costs of tariffs will also include people’s retirement accounts

[doc03]

1. I think a company can even take back any contributions they made to 401Ks. nt

[newdeal2]

2. Doubtful once it's vested and yours