Whoever made that statement made a very dumb statement. It sounds like an excuse for not getting a degree, or a jealous statement.
It is NOT what employers think. We look for CS degrees to know that the person has a solid background in computing, theory, applied science, etc. One does NOT typically get the same experience on the job that they would get in a 4 year CS program. Sure they may become a good programmer on their own, without a degree, but there are things that an undergrad must be exposed to that it would be rare to encounter on the job. Formal data structures, theory, compiler design, AI, software engineering.
The compiler construction class I took in 1993 still applies today, we are still using many of the same books, though revised.
The average "business" programmer has no formal training in CS. They came from other backgrounds when they found they could not make a living in their original field. I have had to teach so many Java/.NET "programmers" about basic data structures, I know very well.