UPDATE 1-U.S. oil company workers make big, bad retirement bet: their own stock

Employees at the largest U.S.
oil companies have lost around $5 billion in retirement savings
since the end of 2018 because of outsized bets on their own
slumping stock, according to a Reuters analysis of company
disclosures, a trend exacerbated by the recent crash in oil
prices.
The losses spread across the 401(k) plans of some 66,000
workers underscore the dangers facing employees that do not
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