I resigned from COP recently having thought that and having an old assurance from COP HR that Vacation awarded was there for you to keep for eg. if you were an employee on 12/31/2016 and you had a Vacation of 160 Hrs for 2017. if you resigned inFeb 2017 you would have a payout of 160 plus any carrover from last year. Well I got paid just 40 hrs for my First quarter .That is the rule that they have enacted as of Jan 17.Apparently we were sent an email .I should have checked with HR.There goes my car payment for my daughter and COP enjoy my money for a good cause :)
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Because if you look at the vacation policy you accrue vacation for work already performed in the PRIOR year. E.g your 2017 vacation is for the work hours in 2016. In 2017 you are accruing vacation for 2018. This is just a way for the company to cut costs in the event someone is let go or decides to quit.
Given that it is driven solely by policy, the company can (and obviously has) change it at will.
You have to admit it makes sense for the company to make this change. What incentive is there to pay a year of vacation for 1 day of work?
I am sure glad I raised my hand in 2015 and got out while the getting was good!
Whammy?