I actually feel sorry for the regular Huffington Post/AOL employees who will get hit by this. I am utterly unsurprised that it happened, but I can feel bad for the regular employees while noting that we knew that this was going to happen:
“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,” AOL’s Chairman and CEO Tim Armstrong told CNBC Thursday morning. AOL is the parent company of The Huffington Post.
Beginning Jan. 1, AOL stopped depositing matching funds into employee 401(k) accounts each pay period. The company will now make one yearly lump-sum deposit of those matching funds into retirement accounts, at the beginning of each year.