Employers in U.S. restaurant industry more likely than other companies to drop health plans or cut workers' hours when new health-law requirements take effect in 2014, consulting firm says
August 8, 2012
(Industry Intelligence Inc.)
– According to new data from the consulting firm Mercer, employers in the U.S. restaurant industry are more likely than other companies to drop their health plans or cut workers’ hours when new health-law requirements take effect in 2014, The Wall Street Journal reported Aug. 8.
Papa John’s International CEO John Schnatter said the law’s requirements for employers would add anywhere between US$0.11 and $0.14 to the costs of a pizza. Meanwhile, McDonald’s Corp. CFO Peter Bensen said that each of the company’s U.S. restaurants would incur between $10,000 and $30,000 in added annual costs because of provisions in the law.
About 46% of restaurant and retail companies said they would have to change in some way once the law comes into effect, compared with 16% of financial services companies, Mercer said.
The primary source of this article is The Wall Street Journal, New York, New York, on Aug. 8, 2012.