Ron Burgundy Posted February 7, 2014 Share Posted February 7, 2014 By Jennifer Saba and Lisa Richwine NEW YORK/LOS ANGELES (Reuters) - AOL Inc Chief Executive Tim Armstrong tried to tamp down a backlash after he blamed a pension cut on costs stemming from two employees' "distressed babies," insisting that the Internet provider was focused on families. Armstrong's comments on Thursday during a company town hall meeting about why it was cutting 401(k) contributions caused a fire storm on social media, overshadowing positive quarterly results from AOL. During the meeting, Armstrong singled out two unidentified employees who had babies with health issues in 2012 and their impact on AOL health costs, which he said had also increased because of "Obamacare" health reforms. "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 OK in general," Armstrong said, according to the Capital New York, which first reported the details. View the full article Quote Link to comment Share on other sites More sharing options...
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