Going to look this up later , but does anyone know the pto pay out policy for resignation and or firing. With looming lay offs and everything I don’t wanna leave earned money on the table by not taking the time
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This is 100% conjecture. I am pulling these numbers out of thin air… so the mods shouldn’t have to delete this comment (unlike others).
My best guess is 2 months (bypass WARN notice) + 1 week per year of service
I just don’t get why people are asking an annono-board questions that are explicitly answered in the employee handbook.
My thoughts are with everyone going through this already, but does anyone know the severance package information? I worry this week won’t be the end of it.
@3cjb is correct. Accrued and earned vacation time (“PTO”) is by law considered “earned wages” and must be paid out when an employee leaves the company for ANY reason.
The person below who claimed they work on severance packages was wrong when that person said “Nike doesn’t have to pay this but it does.” Nope, Nike definitely has to pay all earned wages upon an employee’s departure for any reason; including termination for cause. That person also said Nike only pays out up to 300 hours. That’s true, but only because Nike doesn’t allow you to accumulate more than 300 hours to begin with.
The other person who ironically inserted #facts into his/her post didn’t write even a single thing that was true. Again PTO does get paid out and no, it isn’t taxed at some kind of punitive rate. It also isn’t true that Nike will pay “double your PTO if you know how to negotiate.” The only way to get more money than what you’re automatically entitled to is to hire an employment lawyer upon your departure and have THAT person negotiate. Even then, that usually won’t work unless you have some type of valid, actionable claim against the company. Simply being mad that you got laid off is not, itself, a valid and actionable claim.
Finally, sabbaticals that you haven’t yet accrued or earned are typically not paid out when you leave. Nike might voluntarily elect to pay out your sabbatical if you’re close to or past that date, but otherwise Nike typically doesn’t. Sabbaticals are always discretionary and not by law “earned wages” so any sabbatical payout is always the company’s choice.
Be careful with what you read on this board. You never truly know who’s on the other side of the screen and what their agenda is.
I was laid off from Nike. They paid PTO and Sabbatical both
Clearly the person representing themselves as someone who works on severance packages is trolling this board. I actually work in HR and it is a fact that Nike must by law pay out all PTO. The 300 hours comment is SO ridiculous whoever stated that is likely under paying employees when they exit. I think this could be a lawsuit.
Lol! There’s a peacock full of knowledge who sure likes to be right lol! Typical.So hilarious this is not the HR benefits website. So, anyway, you should know they pay double PTO if you know how to negotiate. #Facts lol
My post below. I should add this applies to layoffs ONLY. You get zero if you’re fired.
@1lws+1pAvWUae if you’re going to add #facts to your post you might want to be sure it’s accurate. Nike does pay out PTO up to 300 hours but does not include sabbatical, extra you-choose holiday, or COVID time. I know this because I am part of a group that works on the severances during a layoff. By law they don’t have to pay it but they do.
They don’t pay out PTO they aren’t compelled to and they’ll hold most of it back in taxes if you ask for it. #facts
It is not taxed more heavily-neither are bonuses. They are withheld at a higher rate, but when you actually do your taxes they are taxed as ordinary income same as salary.
Nike will payoff the remaining PTO. Use it to look for new opportunities
Don’t forget to take your Covid time as well.
It’s paid out as salary, but taxed much more heavily, treated the same way bonuses are. IMO, better off using it.