Posted on 02/08/2014 11:21:38 AM PST by SoFloFreeper
AOL Inc. blamed President Barack Obama’s health-care law for its plan to reduce its spending on contributions to employees’ 401(k) retirement plans.
AOL, owner of websites such as the Huffington Post, will still match employee contributions to retirement plans up to 3 percent of their paychecks, Chief Executive Officer Tim Armstrong said. Under the new policy, it will make the matching payments in a lump sum at the end of the year, forcing employees who leave before then to forfeit the benefit, he said in an interview today on CNBC.
“Obamacare is an additional $7.1 million expense for us as a company,” Armstrong said. “We have to decide whether to pass that expense to employees or cut other benefits.”
(Excerpt) Read more at fa-mag.com ...
Guess they enjoy losing their retirement benefits to help Obama's legacy of destroying America.
Maybe they can send out more CDs to drum up sales...
We are going to end up with full-fledged socialised “healthcare” before this is over. I believe, sooner than we think.
Llama for ending WinAmp...
“it’s that darn obamacare....oops, nevermind....”
But it’s ok! They can park their retirement savings in MYRA!!
When I first started going online I had an AOL account. A couple of years later I decided to ditch it. It seemed almost impossible to cancel the account. Their customer service rep said I had to give them a reason why I was cancelling. I told him that having to give a reason was reason enough. Apparently, that answer wasn’t good enough and he still balked at cancelling the account. AOL was desperate, they were losing customers and the company was trying anything to keep them. I guess they thought that they could talk me out of cancelling. I finally told the rep that he could do anything he wanted but I was calling my credit card company and tell them to stop sending payment. I guess that finally did it.
$2.2 billion in revenue and they can’t eat $7 million?
Do it “for the children”
Do it “for Baraq and Michelle”
Do it “the cause”
Yeah, I was a member for many years, finally just walked away. Got boring looking at their stuff....
They started giving away the memberships...instead of $20 a month or whatever it was, they quit charging for a year...then started up after a year, I’d call to quit, and they’d beg....
I wasn’t interested. There was no real value to the subscription.
This lasted all of one week. It was wildly unpopular with the employees, and AOL has now changed its policy back to the old policy.
thanks for the heads up! :)
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