The CEO of popular pizza chain Papa John's says his employees may face reduced hours and he expects his business costs to rise because President Obama's re-election most likely insures the president's health care reform law will be implemented in full.
NaplesNews.com reports John Schnatter made the remarks to a small group at Edison State College's Collier County campus the day after the election.
Schnatter, who supported Mitt Romney in the election, said though he believes it is a good thing that all will have health insurance under ObamaCare, businesses like his will bear the brunt of the up to $8 million annual cost.
Schnatter estimated that these rising costs could adversely affect his workers. Since only full-time employees working 30 hours or more must be covered under the new law, he said he expects franchise owners will be forced to cut employees' hours because they can't afford the costs of health insurance plans.
"That's probably what's going to happen," he said according to NaplesNews.com. "It's common sense. That's what I call lose-lose."
The comments were not Schnatter's first statements on ObamaCare. He made headlines in August for telling shareholders the law may lead to increases in the price of his pizza.
Read more: http://www.foxnews.com/us/2012/11/11/ceo-papa-john-says-employees-hours-will-likely-be-cut-due-to-obamacare/?test=latestnews#ixzz2Bv7IK9nJ Thanks Again Give-mes For voting Him Back In.
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