Has anyone else realized that people who started with West years ago (and didn't receive the generous new hire PTO package that's only been around for a couple of years) are going to be cheated out of a year's worth of vacation time during the transition to the new policy?
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The new owners of West, while they continue to add to upper management staff, providing accolades as to how these new people add value to the company, are on a targeted, planned course of action to devalue ALL the benefits to employees on lower levels.
Upper management has made it very clear, in web conferences with employees, that their investment efforts are targeted towards those types of e-businesses that require minimal human capital.
There should be no surprise here. The owners, Apollo Global Management LLC, are a Private Equity Fund - they are not in this for the long haul.
Additionally, Companies owned by Apollo Global Management LLC defaulted on their debt more than those owned by 12 of the other largest private-equity firms, according to Moody’s Investors Service.
They try to spin a good story with the employees - but all you can expect from a pig is a grunt. Things will not improve for the employees - except for those at the top. Buyer beware.
it seems like they assuming that people are "abusing" their own PTO hours & testing it out for 2019.. either way, this sinking ship its on its last leg.
We're all losing out on a year's worth either way because we won't get our normal allotment of PTO in 2019. It's just that based on your anniversary, some may start accruing it earlier in 2019 than others. If your anniversary is on November 1st, you go 10 months of 2019, accruing no vacation. If it's on March 1st then only 2 months. It doesn't seem fair but it seems that doesn't matter.
It is unfortunate. Depending on your anniversary date it is possible for some employees to lose half of their PTO in the next year. 200+ hours down to 100 in 2019.
This new PTO policy is just designed to stop the flood of people trying to jump this sinking ship with too much PTO. The winning behaviors continue to bestow their blessings upon us.
In the past we normally got our vacation for the year on our anniversary, AFTER we had worked for the whole year. In 2019, when your anniversary rolls around instead of getting your PTO like you normally would, you start at 0 days of vacation and at that point, you begin accruing vacation and sick time.
explain this to me, please?