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Univision Lays Off 6% Of Staff

August 2nd, 2018 | Leave a comment.

Univision is announcing layoffs, the next major step in the Hispanic media giant’s complete makeover. Numbers are not specified in the company-wide memo, but a source close to the company says 6% of jobs will be eliminated. Before the reductions, the company had a workforce of about 4,000 people, meaning the ranks of the departed will number about 250.

Source – Deadline

What you need to know!

Univision Savings Tax Advantage Retirement Plan is a defined contribution plan with a 401k feature. This plan has a BrightScope Rating of 68.

For the average 401k participant, the 23 point difference between this plan’s BrightScope Rating (68) and the top rated plan (91) could equate to:  14 years of additional work and/or $163,525 in lost savings.
The plans administrator is Andrea Stanowiec and is handled in Teaneck, NJ.  The plan has multiple investment advisors.
One of the key concerns is that the plan only has 36 investment options which is common for most 401k type plans.

Most 401k, Profit Sharing or ESOP plans do not have active management so there really is no one guiding the plan investments. What this means is that like most traditional investment companies, in the event of an economic downturn there is no method for automatically moving your portfolio to a lower risk profile.

With the WealthSentry system we participate in, accounts are automatically re-balanced to lower risk portfolios in the event of a severe economic downturn. Learn more in our guide, 6 Critical Steps You Must Take Now.

For an in-depth analysis of your options feel free to make an appointment, read one of our guides or participate in one of our workshops.

Wishing you the best.

Doug Reed, CRPC, AAMS

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