When the Revolution comes, this guy should be the first to go.
Tim Armstrong should probably stop doing conference calls. The AOL CEO, who fired a guy during one for taking his picture, was perhaps too brash once again today, baldly telling his entire company that their benefits were being rolled back because two women went and got themselves pregnant. “Two things that happened in 2012,” Armstrong said, according to a transcript obtained by Capital New York. “We had two AOL-ers that had distressed babies that were born that we paid a million dollars each to make sure those babies were okay in general. And those are the things that add up into our benefits cost. So when we had the final decision about what benefits to cut because of the increased health-care costs, we made the decision, and I made the decision, to basically change the 401(k) plan.”
Earlier, on TV, Armstrong said, “As a CEO and as a management team, we had to decide, do we pass the $7.1 million of Obamacare costs to our employees? Or do we try to eat as much of that as possible and cut other benefits?”
First off, AOL is still in business? I thought they went out with Windows 3.0 and Home Improvement.
Second, blaming “distressed babies” and Obamacare for cutting benefits to the rest of the AOL staff shows that this pondscum doesn’t know how to run a business. Wages and benefits should be factored into the price of what you’re selling, not the profit. Of course, you have to sell something in the first place….