After earning record profits in the last year, Regal Cinemas is facing an enormous customer backlash after it was revealed that the company will be
slashing staff hours in order to prevent some employees from being covered under Obamacare.
The country's biggest movie theater chain has stirred a hornets' nest of controversy after announcing in a company memo that it's cutting hours for thousands of nonsalaried employees to avoid providing health care insurance under Obamacare, according to Fox News. But that isn't going over well with some customers, who point to Regal's hefty $334 million in 2012 profits and its chief executive's massive 31% pay hike. The company's shares rose 17% last year. "SHAME on you for cutting employees' hours to avoid giving them healthcare while your CEO made $4.4 million and other executives were given large bonuses. You lose my business," one person wrote on Regal's Facebook page. Chief executive Amy Miles earned $4.45 million in 2012, up from $3.4 million in the previous year, according to a regulatory filing.
Regal Entertainment Group operates 540 locations in 38 states under the names Regal Cinemas, Edwards Theaters, and United Artists Theaters. Other companies that have announced similar cutbacks include Denny's and Applebee's.
Labels: business, insurance, movies, Obamacare
