AOL Chairman and CEO Tim Armstrong told CNBC this week Obamacare will cost the company $7.1 million and force it to cut other benefits.
“Obamacare is an additional $7.1 million expense for us as a company. So we have to decide whether to pass that expense to the employees or whether to cut other benefits.”
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AOL chief cut 401(K) benefits this week – blaming it on Obamacare.