Darden Restaurants is a huge company. It owns Olive Garden and Red Lobster amongst many others, so when this company decides it will start cutting hours due to the imminent implementation of ObamaCare, you had better listen. From the Orlando Sentinel:
Darden, the world’s largest casual-dining company and one of the nation’s 30 largest employers, said it offers health insurance to all its approximately 185,000 employees. Many are offered a limited-benefit plan. That type of coverage is being phased out under health-care changes, which will ban annual limits for most plans.
In an experiment apparently aimed at keeping down the cost of health-care reform, Orlando-based Darden Restaurants has stopped offering full-time schedules to many hourly workers in at least a few Olive Gardens, Red Lobsters and LongHorn Steakhouses.
Analysts say many other companies, including the White Castle hamburger chain, are considering employing fewer full-timers because of key features of the Affordable Care Act scheduled to go into effect in 2014. Under that law, large companies must provide affordable health insurance to employees working an average of at least 30 hours per week.
This is just more evidence of America’s decline into neo-feudalistic serfdom. Everyone is going to be working part-time, living with their parents and buying food with EBT cards. I’m sure this is great for the housing market! All these investors buying will have no one to rent to. On the positive front, the unemployment rate might go down as more people work less hours and everyone loses!
Full article here.