Was FTO introduced to save money with cash encashment of allocated or unused PTO as they anticipated more layoff in future? We cannot encash FTO?
9 replies (most recent on top)
Yes, flexible time off is all about cost savings.
Nike won’t have to pay for time off management and pay out unused time.
It’s trendy, many companies adopting purely for cost savings
WHQ still has earned PTO.
I believe FTO (Flexible Time Off) is an EMEA only benefit, not company wide
Companies love FTO because no one takes time off and they no longer have to pay out those hours when you leave.
Everyone I work with has maxed their PTO bank. Some of them got as much from PTO as their severance.
PTO is part of comp figure. If you make 150k, PTO comes off that number. Look up your paycheck. You will see the dollar figure next to it.
Was there an announcement that we switched from PTO to FTO?
With company our size, It sure can unlock a huge budget that can be invested in the business as opposed to keeping it on the books in lieu for all the employee accrued PTO’s .
All big tech/ bay areas company do the same.
When did they release unlimited PTO?
Try harder
What's FTO?