AOL is restoring its policy of offering matching 401ks to employees without any catches or wrinkles:
Tim Armstrong has announced he's reversing AOL's 401k policy. Credit to a CEO who responds to the feedback of his workers.
— Sam Stein (@samsteinhp) February 8, 2014AOL had recently changed its 401K plan so that employees would only get matching contributions at the end of the year. This robbed them of any gains during the year if they left the company mid way.
Many were critical of Armstrong following his remarks on a conference call explaining the change earlier this week. On the call, Armstrong blamed a "$7.1 million bill from the Obamacare act" and talked of two AOLers who had "distressed babies" that AOL had to pay "a million dollars each to make sure those babies were okay in general."
It became a controversial point of tension, but now AOL has restored its old system.