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AOL Boss Under Fire For 401(k) Change, Blaming Sick Babies

AOL Boss Under Fire For 401(k) Change, Blaming Sick Babies

(Undated)  --  The boss at AOL is catching a lot of heat over a change that he rescinded and comments he can't take back. 

CEO Tim Armstrong set off an explosion of protest from employees when he announced last week that AOL will match workers' contributions to their 401(k) accounts at the end of the year, rather than on every payday.  That change could cost workers of lot of money in lost interest. 

The company reversed the change Sunday.  When Armstrong announced the change in the matching policy last week he blamed it on the Affordable Care Act and AOL having to pay millions of dollars to cover the cost of treating what he called two "distressed babies" born in 2012. 

The mother of one of those children wants a personal apology from Armstrong for, as she put it, blaming saving her daughter's life for his decision to scale back employee benefits.  Bloggers and commentators have been blasting Armstrong all weekend.

 

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