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  1. #1
    Senior Member JohnDoe2's Avatar
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    Starbucks CEO: We won't cut benefits because of Obamacare

    Starbucks CEO: We won't cut benefits because of Obamacare

    By Jose Pagliery @Jose_Pagliery August 27, 2013: 12:17 PM ET

    Starbucks' CEO says he won't cut employee benefits because of Obamacare.

    NEW YORK (CNNMoney)

    Starbucks' CEO acknowledged that Obamacare might increase insurance costs, but said the company's benefits are non-negotiable.

    While other U.S. companies have cut staff or benefits in anticipation ofnext year's health care overhaul, Howard Schultz said Starbucks (SBUX, Fortune 500)' insurance plans will stay in place -- for everyone.

    "It's not about the law. It's about responsibility we have to the people who do work and who represent us," Schultz told CNN on Tuesday.

    The coffee chain is unique in its policy: Even part-time workers are eligible for insurance. In 2010, benefits cost the company $300 million, more than it paid for coffee.

    But Schultz said the benefits will remain a cornerstone of the company's compensation for its 160,000 employees, even though it could be more expensive next year due to Obamacare's "unintended consequences."

    Related: Delay in Obamacare - what you need to know

    "It may end up costing us more... but I don't think that is the primary issue," Schultz said. "Starbucks does not want to leave people behind."

    His comments put him in stark contrast with other business owners, who have taken drastic measures to reduce costs next year.

    Last week, UPS (UPS, Fortune 500) said it will cut insurance to 15,000 workers' spouses. Last year, pizza franchise Papa John's (PZZA) announced plans to cut workers' hours in order to dodge the employer mandate.

    "I don't believe that...the health care law should be a reason or a motivation to cut benefits for either the employee or spouses," Schultz said. "An investment in your people is an investment in shareholder value."

    Related: What you'll actually pay for Obamacare

    Over the years, Schultz's commitment to employee benefits has been unwavering. Even when Starbucks took cost-cutting measures like shutting down stores and laying off employees, health care benefits -- which also include dental and vision -- have remained intact.

    --CNN's Poppy Harlow and Maggie Lake contributed to this report.

    http://money.cnn.com/2013/08/27/news/companies/starbucks-obamacare-schultz/index.html?eref=googletoolbar
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    Senior Member JohnDoe2's Avatar
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    Wal-Mart to cover benefits for domestic partners

    By Emily Jane Fox @emilyjanefox August 27, 2013: 1:51 PM ET

    Starting Jan. 1, domestic partners of Wal-Mart workers will be eligible for benefits.

    NEW YORK (CNNMoney)

    Wal-Mart will offer health insurance benefits to same-sex couples and domestic partners starting in 2014.

    The nation's largest retailer, the second-largest employer behind only the federal government, said domestic partners of its U.S. employees will be eligible starting Jan. 1 in a postcard mailed to workers this week.

    The change will cover same-sex couples, as well as domestic partners of opposite genders who have been living together and in a committed relationship for at least a year.

    The move comes just months after the Supreme Court overturned the Defense of Marriage Act, which previously defined marriage as between a man and a woman.

    The ruling meant that married same-sex couples in a dozen states and the District of Columbia are now eligible for more than 1,000 spousal benefits previously off limits under DOMA.

    Related: DOMA ruling's overlooked benefit: Immigration rights

    Since Wal-Mart (WMT, Fortune 500) operates in all 50 states, it was important to the retailer to develop a single definition for all workers and have consistency across the country, according to spokesman Randy Hargrove.

    "Given the diverse world we're in, we wanted to have a comprehensive benefits packages that appeals to a contemporary workforce," he said. "We want to attract and retain the best workforce."

    Hargrove said that about 1.1 million associates and their family members enroll in Wal-Mart's benefits programs. It's unclear how many people will enroll with the new changes.

    Workers will be able to enroll from Oct. 12 through Nov. 1.

    http://money.cnn.com/2013/08/27/news/companies/walmart-same-sex-benefits/index.html?eref=googletoolbar
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    Senior Member JohnDoe2's Avatar
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