10 years ago
1
AOL chief cuts 401(k) benefits, blames Obamacare and two “distressed babies”
AOL chief executive Tim Armstrong on Thursday offered a number of unusual explanations for why his company pulled back its 401(k) benefits for employees this year. The first reason: Obamacare. The second: two women at the company who had "distressed babies" in 2012. The stock, which started off strong this morning because of a good earnings release by AOL, has now fallen nearly three percent today.
Continue Reading
http://www.washingtonpost.com
Additional Contributions:
-
+3Submitted 10 years ago by grandtheftsoul
-
+2Submitted 10 years ago by doodlegirl
-
+1Submitted 10 years ago by ladyliberty
Join the Discussion
So another pathologically greedy CEO just screwed his employees to line his own pockets. You can't really claim that your company is making money handoverfist and then claim that you need to cut employee benefits, unless you really do want to look like a hapless douchebag. Which apparently Armstrong does. (What is it about the name 'Armstrong' and douchebaggery, anyway?) UPDATE: So I just read that Armstrong took a survey of the blowback and decided that he was wrong and reversed his decision. So I'm reversing my opinion of him: He's not a douchebag.