Welcome to Amazon, Washington Post Employees

Now that he has the Washington Post, he is getting ready to treat them like his Amazon employees:

The Washington Post announced large cuts in retirement benefits on Tuesday, declaring that it would eliminate future retirement medical benefits and freeze defined-benefit pensions for nonunion employees.

The company also said that in negotiations that started Tuesday, it will seek to impose the same conditions on employees covered by the union — one of the first indications of how The Post’s new owner, Amazon.com founder Jeffrey P. Bezos, will manage relations with the staff of the news organization.

The changes will hit hardest at employees hired before 2009 who could plan on receiving pension payments based on their income and years of service. Each of those employees could see scores — or hundreds — of thousands of dollars less over the course of a retirement. More recent hires do not have traditional pension plans.

Here is the kicker:

The Post’s existing pension plan was about $50 million, or approximately 20 percent overfunded, last Oct. 1 when Bezos bought The Post.

No money problems, he just wants to loot the WaPo pension fund, because that's what capitalists do.

Anglo-Saxon hypercapitalism is a truly nasty piece of work.