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Back in the day at 3Com, Bill Krause used to announce that everyone had to take two days of vacation in the coming quarter. The reason was that he had "promised
by AlbertCory 4y ago
Back in the day at 3Com, Bill Krause used to announce that everyone had to take two days of vacation in the coming quarter. The reason was that he had "promised" Wall Street that we would hit a certain earnings number, and with accounting practices, your accrued PTO is "paid back" when you actually take it.
(The rationale is, they'd have to hire someone to do your job when you're gone, although of course that's nonsense for engineers.)
No one on Wall Street was fooled by crap like this, and I doubt Intel's moves will make any difference, either.
- bluedino 4y agoI worked at a place during Covid where you were forced to use your pto as it was accrued. Financially the money goes into either payroll or PTO, and this way they saved whatever percent. It was either this or lay off ~10% of the employees If you worked there for years and had lots of hours banked it was fine, but as a newer employee it was very annoying.
- fatbird 4y agoHoneywell furloughed virtually its entire staff for two weeks in Q2 of 2020. Literally, no work and no pay, just all about reducing labour expenses by 2/13ths for the quarter.