Applebee's and Papa John's have joined the growing chorus of employers who warn the upcoming implementation of Obamacare will lead to damaging cuts in its workforces.
"That's what you do, is you pass on costs", John Schnatter, founder and CEO of Papa John's, told students at Edison State College in Naples, Fla. “Unfortunately, I don't think people know what they're going to pay for this."
He estimated the new law will cost Papa John's $5 million to $8 million annually.
Zane Tankel, CEO of Apple-Metro, which owns 40 Applebee's in the New York metropolitan area, told Fox News he is also preparing for changes.
“We've calculated it will cost some millions of dollars across our system. So what does that say? That says we won't build more restaurants. We won't hire more people," Tankel said.
ilap, I've been following this story. Businesses owners will force employees to go part time so that they don't have to insure them under Obamacare. This will make the governments employment numbers look like they are rising. Reality is that 1 person now needs 2 jobs just to get enough work. Not a good scenario going forward. The unintended(or possibly intended) consequences of Obamacare.