Tankel’s statement prompted outrage and threats of a boycott, but he was
far from alone. Already John Schnatter, CEO of Papa John’s Pizza, has
announced that he would likely lay off some workers. Earlier, Schnatter
said that ObamaCare would cost his business $5 billion to $8 billion
annually, forcing him to increase the price of pizzas.
Meanwhile, two other restaurant chains, Olive Garden and Red Lobster, are moving many of their employees from full- to part-time work in order to avoid the law’s mandate that anyone working more than 30 hours must have insurance. An owner of 40 Denny’s in Florida, meanwhile, says he’ll add a 5% surcharge to customer bills in 2014 to cover his increased costs.
While restaurants, with traditionally low profit margins and large numbers of low-skilled, low-wage workers, are exceptionally vulnerable to ObamaCare’s costs, other business are being hit too. For example, Boston Scientific has announced that it will now lay off up to 1,400 workers and shift some jobs to China.
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Meanwhile, two other restaurant chains, Olive Garden and Red Lobster, are moving many of their employees from full- to part-time work in order to avoid the law’s mandate that anyone working more than 30 hours must have insurance. An owner of 40 Denny’s in Florida, meanwhile, says he’ll add a 5% surcharge to customer bills in 2014 to cover his increased costs.
While restaurants, with traditionally low profit margins and large numbers of low-skilled, low-wage workers, are exceptionally vulnerable to ObamaCare’s costs, other business are being hit too. For example, Boston Scientific has announced that it will now lay off up to 1,400 workers and shift some jobs to China.
Read Full Article>>