Obamacare Fallout: 74% of Small Businesses will Fire Workers or Cut Hours

Despite the administration's controversial decision to delay forcing companies to join Obamacare for a year, three-quarters of small businesses are still making plans to duck the costly law by firing workers, reducing hours of full-time staff, or shift many to part-time, according to a sobering survey released by the U.S. Chamber of Commerce. 

"Small businesses expect the requirement to negatively impact their employees. Twenty-seven percent say they will cut hours to reduce full time employees, 24 percent will reduce hiring, and 23 percent plan to replace full time employees with part-time workers to avoid triggering the mandate," said the Chamber business survey provided to Secrets.

Under Obamacare, just 30 hours — not the nationally recognized 40 hours — is considered full-time. Companies with 50 full-time workers or more are required to provide health care, or pay a fine. 

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The Chamber's second quarter small business survey found that just 30 percent are ready for the law and even understand what is required.

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