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TIM ARMSTRONG, CEO of AOL: We have to look at our benefits programs very seriously. In the CEO chair, let me give you an example of the decisions we have to make as a company: Obamacare is an additional $7.1 million expense for us as a company. So we have to decide whether or not to pass that expense to employees or whether to cut other benefits.
Just more green shoots from Obama's policies.
Their 401k may not be what gets cut, the point is, something has to give when tyranny comes knocking
TIM ARMSTRONG, CEO of AOL: We have to look at our benefits programs very seriously. In the CEO chair, let me give you an example of the decisions we have to make as a company: Obamacare is an additional $7.1 million expense for us as a company. So we have to decide whether or not to pass that expense to employees or whether to cut other benefits.
Just more green shoots from Obama's policies.
Tim Armstrong, the guy who fired an employee for taking a picture (a guy who's job was to take pictures) during a conference call.
This is what Armstrong also said:
"We had two AOL-ers that had distressed babies that were born that we paid a million dollars each to make sure those babies were okay in general. And those are the things that add up into our benefits cost. So when we had the final decision about what benefits to cut because of the increased health-care costs, we made the decision, and I made the decision, to basically change the 401(k) plan."
TIM ARMSTRONG, CEO of AOL: We have to look at our benefits programs very seriously. In the CEO chair, let me give you an example of the decisions we have to make as a company: Obamacare is an additional $7.1 million expense for us as a company. So we have to decide whether or not to pass that expense to employees or whether to cut other benefits.
Just more green shoots from Obama's policies.
Their 401k may not be what gets cut, the point is, something has to give when tyranny comes knocking
It's good to have an excuse to cut employee benefits. We had our 401K cut to zero years ago, and they had to make up excuses. Such moves do nothing but reduce the company's ability to attract a better class of employees.
The funny part of this is that AOL owns HuffPo. So the employees at HuffPo who have been cheerleading Obamacare are getting ready to experience some of the pain firsthand.
It's good to have an excuse to cut employee benefits. We had our 401K cut to zero years ago, and they had to make up excuses. Such moves do nothing but reduce the company's ability to attract a better class of employees.
An employer match is a benefit. It's not guaranteed and it's not in any employment papers you sign.
Your salary is. Therein lies the difference.
The funny part of this is that AOL owns HuffPo. So the employees at HuffPo who have been cheerleading Obamacare are getting ready to experience some of the pain firsthand.
They're all over there posting that they had no kids last year so it wasn't them
Word is the reason Tim Armstrong used for decreasing 401(k) benefits doesn't add up...
Quote:
Armstrong's explanation, which partially linked the 401(k) changes to childbirth costs, was criticized as insensitive and unclear. "AOL CEO Tim Armstrong, who makes $12m a year, takes away retirement money from employees for cost of sick babies," tweeted Guardian editor Heidi N. Moore to 45,000 followers. Armstrong made $12.1 million in 2012 -- four times his 2011 salary, according to public filings.
The idea that costly pregnancies would increase AOL's future employee benefit costs doesn't make sense, said Gary Claxton, the co-director of the Program for the Study of Health Reform and Private Insurance at the Kaiser Family Foundation. Those expenses shouldn't have any effect on costs. "There should be none. None," he said.
An employer match is a benefit. It's not guaranteed and it's not in any employment papers you sign.
Your salary is. Therein lies the difference.
It was in the papers in the contract I signed. In fact its common to be in the employment offers. Companys can change them at anytime...just like with the salary. You have to get to the C-level to get guarantees about salary not changing etc.
The funny part of this is that AOL owns HuffPo. So the employees at HuffPo who have been cheerleading Obamacare are getting ready to experience some of the pain firsthand.
HuffPo is staffed by unpaid assistants and guest authors, it's hard to make very many cuts to a staff that is largely unpaid to begin with.
The funny part of this is that AOL owns HuffPo. So the employees at HuffPo who have been cheerleading Obamacare are getting ready to experience some of the pain firsthand.
So this affects Huffington Post's 401(k) plan too? Or are you just linking two unrelated things together to spread propaganda?
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