No, this was a telecom company where the Canadian executives were siphoning money from the American work force, which was net profitable. The Canadian side was losing money by the billions. The pensions were down to a mid sixty percent reduction before the American government stepped in to stop the transfers. It was in all the papers.
> https://www.cnbc.com/2021/03/08/covid-relief-bill-gives-86-b...
Unfortunately, it's not just the private sector pensions that have been mismanaged (or raided, as you pointed out) which are in dire straits. California, in particular, has a lot of public pension headaches that will be coming to a head (and in some cases already have):
https://www.latimes.com/projects/la-me-pension-crisis-davis-...
https://www.forbes.com/sites/adamandrzejewski/2020/05/19/why...