For the troops, so they can recharge over the mid summer holiday…bs.
Oh and tha’s just US who has no works councils to protect.
Fran/ELT straight up lied to our faces.
They knew this was coming and wanted to shift the expense hit.
Why, so their bonus looks better.
Best company to work for folks.
No, if I was CEO I wouldn’t do the same thing. In fact, it wouldn’t even come ip because I wouldn’t be running the company so horribly in the first place that it even became relevant.
@xwt+1u5OoCIW I highly doubt they’ll do any shutdowns now. Those were predicated on “reducing the balance sheet liabilities” for the company. Expect those to go the way of the dodo.
Curious to see if with Unlimited PTO they'll do a July shutdown next year as well...
In the FAQs they addressed the July week off as a financial relief plan on the FY24 books. It makes sense on a business scale they aren’t hiding it. I’m not an ELT, but let’s stop pretending anyone would do anything different if the financial / accounting team was like, “hey, taking a week off of PTO from the books would help us out at a business scale to relieve margins.” I want to know anyone that would’ve been like, “nah, we good. Take the hit”. Just be realistic that maybe you yourself would make similar decisions.
Most of the industry has already moved this direction. Is it a boon to the books? Sure. Is it a boon to employees as well? Can be, with the right leadership. I've worked for multiple companies now with "non-accrual" PTO, and never had an issue with taking time off. Reasonable limitations have been in place around holidays, and numbers of team members off at the same time, but I've had no issues thus far...
You are getting your pto paid out - take your blanket.