I used to work at Coinbase until I got laid off with a pregnant wife last month. During my 18 month of employment, I didn’t take a single day off. I couldn’t, because the workload was insane and I knew people who were PIP’ed for taking time off. So I never did it. The layoffs came and it came with a funny surprise! because the company has unlimited PTO as a policy, you don’t get to be paid for the time off you didn’t use. how is this even legal? A company telling you they allow unlimited PTO, then not letting you take any, and then firing you and not paying the accrued vacation. This should be banned. Edit: adding a poll. Would you prefer unlimited PTO or regular pto? Edit 2: I didn’t expect this to become THIS popular. Lets see if we can take this 22,000 participants poll and share it with HR in our companies so they change their PTO policies. Edit 3: you all breaking my blind. Stop commenting! Lol #coinbase #pto
We have a detective here everyone! In case you were under a 🪨, he is talking about coinbase. They laid of large numbers off folks due to current market conditions, not necessarily performance. When that happens, it may not be one's performance , it is almost always, full teams working on certain features. Asking if one was laid off due to performance when a company lays off substantial number of folks, shows immaturity and lack of awareness of that asker and organization.
He’s not mad he’s just giving you the cold, hard facts
Unlimited PTO is the best perk if you have a team that honors it. I always ask about attitude towards this in interviews. I wouldn’t join a company that didn’t let me take time off nor would I stay at one.
This
Wouldn’t they just lie and say it’s no strings attached?
Wait so what happens if I actually just join, then never goto a single day of work ? How long would that last before pip ?
Within a couple of days, if you dont even log in for single day of work... unless your manager forgets about you
Still free money
Whole coin base is a scam, you already knew that before joining. Please don’t blame unlimited PTO for your poor choice of companies
How is Coinbase a scam?
Unlimited PTO is a scam for exactly reasons you mentions. Employees being a big community just can’t coordinate, instead they outcompete each other in working and race to the bottom of zero days taken. This is exactly situation when regulations aka fixed pto days that employees are encouraged to take is a good thing.
Exactly. I worked at a place that had it and no one took it for this reason. The place also would laud whomever worked over the weekend on Monday mornings for their (unpaid) overtime which just turned into this unhealthy spiral.
It's legal because if you read the contract, you would understand what you're signing up for. It's ok, now you know that unlimited PTO isn't necessarily better than normal PTO.
Just being pedantic but not everything you sign in contracts is legally enforceable. Not saying that’s the case for unlimited PTO though.
Well it just means you should know your rights
Has been designed to help with the company balanced sheet. Not employees.
That is right. It was a way to get rid of the PTO liability that needs to be paid out when people leave. It should be illegal but it is not because we have no labor laws in this country.
Op needs to clarify: did you never even ASK for pto or you asked but was never given? If the former it's also on you since a company will always have work doesnt nean people are not entitled to vacations. If the latter coi base sucks.
If all your colleagues are taking zero time off and you take reasonable time off, you wind up having lower performance than them and get penalized for it. Unlimited PTO leads to a race to the bottom for employee conditions and really sucks at high intensity companies
I agree that this haopens iat high intensity companies (and intel is not one so i havent suffered from that personally to empathize). But you're not supposed to be penalized for work you didn't do because you were on... vacations. It's another thing to try exploit and take 3 months vacations and another to ask for a regular 3-4 weeks. Unlimited PTO is mostly an excuse (for employees whondont ASK) to not use your rights. In regular PTO companies many people don't use most of their PTO in USA - this fact even been used in that AMEX commercial. So if everyone stopped being a robot (or a coward accepting to compete with the robots/nolifers) companies would be so brazen about penalizing you for taking what you're owed. Like prisoners dilemma everyone cares their ass, but in this case everyone gets screwed too with 100% certainty (no vacations).
Depends. The nest companies for PTO are those that have an unlimited time off policy and have either the majority of people in the EU or are EU based. They tend to take 6-7 weeks off a year.
Even if there's actually unlimited PTO, I feel like there should be X number of days that can be paid out
This will not happen as not in the interest of the company.
They can just give regular PTO then🤷🏼♂️