http://mashable.com/2014/02/09/aol-...nefits-decision-wife-of-staffer-step-forward/
A company’s inner-office policies can be a sensitive topic, particularly when that office is AOL, one of the most high-profile media brands on the Internet, and especially when the topic is employee benefits.
That’s why when AOL CEO Tim Armstrong was reportedly heard during a recent conference call linking a change to the company’s 401(k) benefits package to the birth of two “distressed babies,” which he claimed cost the company $1 million each, the public’s reaction was, shall we say, less than favorable.
In a transcript detailing the offending comment, published by Re/Code on Feb. 6, Armstrong said:
We had a $7.1 million bill from the Obamacare act in general and we had multiple other things that happened at the company healthcare-wise. Two things that happened in 2012 we had two AOLers that had distressed babies that were born that we paid a million dollars each to make sure those babies were okay in general.
The benefits change in question specifically referred to Armstrong’s plan to delay the delivery of employee matching 401(k) payments, delivering them in a single lump sum, which would be paid after the year in which the benefit was earned.
A company’s inner-office policies can be a sensitive topic, particularly when that office is AOL, one of the most high-profile media brands on the Internet, and especially when the topic is employee benefits.
That’s why when AOL CEO Tim Armstrong was reportedly heard during a recent conference call linking a change to the company’s 401(k) benefits package to the birth of two “distressed babies,” which he claimed cost the company $1 million each, the public’s reaction was, shall we say, less than favorable.
In a transcript detailing the offending comment, published by Re/Code on Feb. 6, Armstrong said:
We had a $7.1 million bill from the Obamacare act in general and we had multiple other things that happened at the company healthcare-wise. Two things that happened in 2012 we had two AOLers that had distressed babies that were born that we paid a million dollars each to make sure those babies were okay in general.
The benefits change in question specifically referred to Armstrong’s plan to delay the delivery of employee matching 401(k) payments, delivering them in a single lump sum, which would be paid after the year in which the benefit was earned.
