Papa John’s May Cut Hours and Raise Prices Due To Obamacare
Over the past several months, I've heard and read many statements from business owners who say deep cuts will need to be made to the workforce as a result of Obamacare.The latest is John Schnatter, founder and CEO of pizza chain Papa John’s, says that President Obama’s re-election may force franchises to slice employees’ hours — and even raise the price of pizzas.
Papa John’s Big Cheese claims he expects his franchises will cut back on hours to avoid paying more for health insurance. Under the new health care law, full-time employees at companies with more than 50 workers must be covered. Schnatter, estimates the law will cost Papa John’s $5 million to $8 million a year.
The Daily reports that the pizza mogul told shareholders that the new law would result in a 10- to 14-cent increase.