AOL has reversed its decision to match 401k funds annually instead of per pay period. This is the decision — only a couple of days old — that CEO Tim Armstrong had tries to blame on 2 AOL employees who had experienced 'distressed pregnancies'. Armstrong is still a stupid fucking douche, but at least he got caught telling his dumb lies this time.

From the Washington Post:

Armstrong tried to explain the changes Thursday but instead stirred up more bad publicity when he blamed the new federal health-care law and medical expenses associated with two "distressed babies."

Armstrong apologized for his comments in Saturday's e-mail.

"On a personal note, I made a mistake and I apologize for my comments last week at the town hall when I mentioned specific health-care examples in trying to explain our decision making process around our employee benefit programs," he wrote.

Score one for ValleyWag - AOL caves