Panerabread takes preemptive action to avoid paying insurance benefits to employees under the Affordable Care Act that is set to go into effect in five months. I heard a rumor this morning that this action had occurred at the local Panerabread where long term full time employees were informed that there hours would be cut back to 20 hours per week. So I decided to do a bit of investigating research. If you want to know what is going on in a company look at there Stock Holders Annual Report. The following is from the 2012 Panerabread Report so draw your own conclusions. Before you continue to read I want to add that Panerabread has a NOW HIRING banner on the side of there building. Here is the reference document panerabread/pdf/ar-2012.pdf "We’re proud to have exceeded our earnings targets in each quarter of 2012. In 2012, our earnings per share (EPS), excluding a onetime legal charge in 2011, grew 27%." and to continue. "To that end, allow us to address the implementation of the Affordable Health Care Act at Panera in 2014. It remains a core tenet of Panera that we treat all associates with the dignity and respect they deserve. Indeed, we presently offer health coverage to team members who work more than 25 hours a week" "We therefore concluded the appropriate course of action for Panera is to refrain from scheduling employees simply to avoid the full time classification. Rather, our intention is to treat any increase in healthcare costs as an inflationary line item on our P&L." So you can complain that President Oboma is the cause of this and that Americans really do not need health care no matter what there financial strength is. Or you can consider that corporations such as Panerabread are making record profits and showing growth of 27% at the cost of there employees health and well being. Now also consider that an employee working 20 hours a week or making minimum wage nets after taxes about $20.00 a day. On average an employee that travels 15 minutes to work will spend almost $10.00 in gas just getting to work. So now the employee nets after taxes and gas expense $50.00 a week. How does this pay for shelter, food, clothing, child care, and basic living expenses. Now consider that you get sick and have no health care. So where is the incentive to work? You say, just go find another job right? Where? Or do you say, corporations should start considering that a full time employee paid a living wage and has reasonable benefits are far more motivated to provide good customer service that one that is tossed table scraps and ask to smile while the corporation makes huge profits. You be the judge.
Posted on: Wed, 31 Jul 2013 19:56:47 +0000
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