Unlimited leaves: This tech giant abolishes ‘fixed vacation days’ from 2023
1 min read . Updated: 12 Jan 2023, 07:07 PM IST
PremiumMicrosoft employees who have unused vacation balances will receive a one-time payout for accrued time off.
In a dramatic change to its vacation policy, tech giant Microsoft has decided to give as many holidays to its employees as they need starting this year. Under its new "Discretionary Time off" policy, the company has decided to abolish the system of having a fixed number of yearly vacation days.
In a statement regarding the same, a company spokesperson said, "Beginning January 16, 2023, Microsoft is modernizing our vacation policy to a more flexible model and transitioning to Discretionary Time Off (DTO)."
"How, when, and where employees do their jobs has dramatically changed and DTO aligns with more flexible ways of working," the spokesperson statement also said.
As per a report by Verge, Microsoft's chief people officer Kathleen Hogan on Wednesday informed the employees about the policy change via email.
In addition, Microsoft will offer workers 10 corporate holidays, leaves of absence, sick and mental health time off, as well as time off for jury duty and bereavement
Further, the employees who have unused vacation balances will receive a one-time payout for accrued time off.
The new DTO policy does not apply to hourly workers or workers outside the U.S., Microsoft said.
Currently, 122,000 people work at the corporate office in the US.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less