Also reduced PTO from 160 hours flat to 120 hours and 40 hours of sick leave. Sick leave is not paid on departure from company. PTO was accrued in full on anniversary of employment, now PTO/Sick Leave accrued incrementally on pay period (starting in January). CEO mistakenly thought that leave currently accrued in full for new hires upon hiring. Currently, first year employees accrued 40 hours first day, 32 hours every 3 months thereafter until first anniversary, which is the full 160 hours.
Company acknowledged PTO program was above market, and they are bringing it down to market, while bringing other benefits up to market. Company aspiring to sheer mediocrity of benefits.