And the company is looking at sharing the pain of Obamacare with its employees.
According to AOL Chairman and CEO Tim Armstrong:
Obamacare is an additional $7.1 million espense for us as a company. We have to decide whether to pass that expense onto our employees or whether to cut other benefits.
Armstrong indicated the company is scaling back its 401(k) matching program.
Because when the government hands out a free lunch, someone has to come up with the lunch money.