ONW
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- Apr 19, 2011
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"The surprising news in this case is that AOL's chief executive, Tim Armstrong placed blame for the cuts on Obamacare, which he says would cost the company $7 million, and two female employees with "distressed babies" that cost $2 million in 2012.
The change in the 401(k) program means AOL will dole out its matching funds to employees' contributions in one lump sum at the end of the year, rather than match contributions in each paycheck. The employee must wait till December 31 to get the matching funds, and won't receive the money if he or she leaves midyear.
Here's why two newborns and the costs of Obamacare are unlikely to be the reasons that AOL changed its 401(k) program:"
http://www.cnn.com/2014/02/08/opinion/roby-armstrong-obamacare/index.html?hpt=hp_t4
How do you define "distressed babies" btw?
The change in the 401(k) program means AOL will dole out its matching funds to employees' contributions in one lump sum at the end of the year, rather than match contributions in each paycheck. The employee must wait till December 31 to get the matching funds, and won't receive the money if he or she leaves midyear.
Here's why two newborns and the costs of Obamacare are unlikely to be the reasons that AOL changed its 401(k) program:"
http://www.cnn.com/2014/02/08/opinion/roby-armstrong-obamacare/index.html?hpt=hp_t4
How do you define "distressed babies" btw?