Massive Layoffs

Started Nov 9, 2012 | Discussions thread
dwalby
Veteran MemberPosts: 3,009
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Re: Massive Layoffs
In reply to Princess Leia, Nov 9, 2012

Princess Leia wrote:

because of Obama and Obamacare...

Dana Holding Corp.

As recently as a week ago, a global auto parts manufacturing company in Ohio known as Dana Holding Corp., warned their employees of potential layoffs, citing "$24 million over the next six years in additional U.S. health care expenses". After laying off several white collar staffers, company insiders have hinted at more to come. The company will have to cover the additional $24 million cost somehow, which will likely equate to numerous cuts in their current workforce of 25,500 worldwide.

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First of all this whole post is lame, but I thought the math was somewhat entertaining in this one specific case.

$24M cost over 6 years for a company with 25,500 employees.  That's $157/yr for each employee, if amortized over their worldwide workforce.  True, their entire workforce probably doesn't all fall under Obamacare, but the number is still funny.

If I were an employee of Dana I'd probably offer to pay my $157/yr out of my own pocket just to keep the company from going bankrupt.  I'm sure there's no other way for a company with $7.5 Billion in annual sales to scrape up $4M a year for something that will benefit their employees, well at least non-executive employees anyway.

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