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 get

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