Managers are being told that employees should plan to use all PTO and not count on being able to carry over 40 hours into 2021. Is this just a shady way to reduce PTO payout totals for those being displaced? Nothing in writing, and I seriously doubt such a change would be made at this point in the year.
Have any other managers been fed this line?
@OP I think you possibly misunderstood:
VS
You can carry 5 full days/40 hrs. Make your team take their pto, is the message.
You can carryover up to 40 hours for Non Exempt Employees. Use it by Mar 15.
Good grief people it's in the handbook. I believe with California it can never expire. You can rollover 40 hours, but must be taken by March or April 15th as that is an IRS requirement. Teamworks and Google is your friend.
You can carryover a certain number of days into 2021 but you must you it in the first few months.
I think it's 3 days but I'm too lazy to look it up, and it appears some folks posting here are just as lazy as me today.
Seriously, this stuff is all posted on Teamworks.
I believe there is a loophole that leaves carryover PTO at "manager discretion". My Manager never allowed us to carry over any PTO :(
You both are partially right.
PTO is recorded as a liability(accrual accounting) on the books when it is earned. Therefore it technically is a debt as the company owes this. We debit vacation expense/credit vacation liability
Once taken
Credit cash/debit vacation liability.
PTO can be a huge liability for company when it is hoarded. Many companies won't even allow carry over anymore. Some allow but it must be used within first couple months of the year.
PTO is not debt
PTO is an employee expense
This stupid PTO conspiracy has been brought up a dozen times. The company has not changed its policy about carryover.
As of now, no one who works here should count on anything, assume nothing, protect yourself, the powers that be at this company do not care about you, make your decisions on that basis.
PTO is debt to any company. Providing any scheme that allows employees to accrue a large amount of PTO hours is risk to the bottom line. I’m sure WF JS looking at its balance sheet and is seeing huge debt with PTO so they will do what they can to minimize PTO accrual - most company’s Furlough or doesn’t allow hours to roll over.
I wouldn’t necessarily equate this to layoffs But rather a cost cutting measure at our expense.
What was actually said is don’t count on being able to carryover more than your normal 5 days.
Side note, but still on topic. My mom spent 30 years with a major insurance company. To reduce the real estate foot print, the company pushed for employees to move to their new centralized mega hub campuses/sites. My mom didn’t want to move to Arizona, Pennsylvania, Georgia or Florida. She was just shy of SS Retirement date of a few years and her grandchildren were local. My dad was still working and had no plans to relocate either.
At her company, if you didn’t take the relocation package, then you got a severance. Theirs was 1 month of severance for every year worked AND payout of all accrued PTO, sick time, personal time. My mom had over 275 days accrued. She literally received 2.5 years of severance and another full year of salary just on cashing in her accrued PTO. So that was 3.5 years in base salary. Amazing.
When I got laid off last year, she was appalled that WF did not allow carryover PTO year over year. I was laid off in September and had not accrued my PTO for the months of October, November and December. Your PTO is accrued at 1/12 per month. So if you get 24 days a year, you only accrue 2 days per month. So I didn’t receive my whopping 6 days of PTO. Talk about nickel and diming employees.
Glad they let me go. Much better off, and I got a great job at her former employer at one of their hub sites with much better benefits.
That means the employee is likely getting terminated. Use the pto while you can
I am a manager and I have not heard anything about this. You are entitled to your PTO, you either take it or the bank has to pay it out to you if you leave with more PTO accrued than you’ve used. Conversely, you have to pay the bank back if you use more PTO than you have accrued and then leave. Often in a displacement that is waived though.
Managers aren't being told this. Five days of carryover is still allowed.
@wrb+16Z9slpg unenforceable if you're in California.
When I started, I was told that there would be no carryover PTO allowed this year.
If you're unsure look in the Handbook and Benefits Book.
There's always a push to get people to use up PTO prior to year-end. Every state but California allows them to limit it to 40 hours, so you should always keep your maximum.
California allows you to carry over whatever you want, but you cannot accrue once you hit the cap of 1.5x annual PTO.
I personally have 150 accrued hours and close to a month(5 day weeks) including unaccrued. They'll be paying me nicely if I'm laid off. I also have 5 floating holidays due to not working Mondays.
Haven't heard that, but there has been a push to use pto.
We have been told no more than 5 days will carry over. No exceptions. And don’t expect to be able to take them all at year-end causing potential staffing issues.
It would reduce the cost of layoff packages if they don't need to payout a bunch of accrued PTO. Employees with a lot of time banked are more expensive to get rid of. They pay you whether you take PTO or not, so it's only an additional expense if they need to payout what's accrued.
No I haven’t heard this. Whether it’s paid now by you taking it or later via payout how does that “help” WF? It’s paid either way right?