Dec 5, 2012 No Comments ›› Pat Dollard
Excerpted from Health Watch: A major restaurant chain said Tuesday that its complaints about President Obama’s healthcare law have been bad for business.
Darden Restaurants, which owns Olive Garden and Red Lobster, had previously announced plans to cut its workers’ hours so that it wouldn’t have to provide health insurance under the law’s employer mandate.
Darden is one of several large employers to consider rolling back workers’ hours in response to the Affordable Care Act. But the company said Tuesday that negative publicity surrounding that position might be bad for business.
The company on Tuesday lowered its earnings estimates for fiscal 2013, and said in a statement that the weaker projections owe in part to concerns over a backlash to its healthcare stance.
“Our outlook for the year also reflects the potential impact, though difficult to measure, of recent negative media coverage that focused on Darden within the full-service segment and how we might accommodate healthcare reform,” Darden CEO Clarence Otis said in a statement.