Slashdot is powered by your submissions, so send in your scoop

 



Forgot your password?
typodupeerror
What's the story with these ads on Slashdot? Check out our new blog post to find out. ×
America Online Businesses The Almighty Buck

AOL Reverses Course On 401K Match; CEO Apologizes 123

An anonymous reader writes "When we last checked in with Tim Armstrong, the AOL CEO was demonstrating 'Leadership with a Capital L' to employees of the company's Patch local news subsidiary by summarily firing an employee in the middle of a conference call for taking photos. Armstrong continued to serve up tasty material for tech bloggers this past week, blaming $7.1 million in extra expenses from Obamacare, and for $2 million in expenses for 'two AOLers that had distressed babies', for a decision to hold all matching funds for employee 401K programs until the end of each calendar year. After a small firestorm in the press, and a petition from AOL employees unhappy with both the policy change and the way it was presented, Armstrong reversed course, reinstating the per-period match and apologizing for mentioning the individual employee cases (TechCrunch is an AOL subsidiary). Incidentally, Armstrong was originally following in the footsteps of IBM, which made similar changes to its 401K program that went into effect last year."
This discussion has been archived. No new comments can be posted.

AOL Reverses Course On 401K Match; CEO Apologizes

Comments Filter:

Related Links Top of the: day, week, month.

To downgrade the human mind is bad theology. - C. K. Chesterton

Working...