What is the name of your state (only U.S. law)? California-->Colorado
For many years, the large company I work for allowed us unlimited carry-over of unused vacation days. Two years ago they changed the policy: they record your balance at the end of September; then, the following September (end of fiscal year) you are allowed to have up to the number of accrued vacation days as previously recorded; anything over that is cashed out - paid to you at your regular daily rate. The intention is to gradually lower the carried-over days. Fair enough.
This year I used up 28 days and at the end of September had a balance of 35 days, well under the balance recorded last year, so I should have been fine (not getting anything cashed out). Today, I got an email that read: the vacation policy has been changed; the company has decided that anyone who had a balance at the end of September between 30.1 and 39.9 days, will be lowered to 30 days; 5 vacation days will be cashed out and paid to me in the November 30th paycheck."
Can a company legally apply such a policy change retroactively, and force me to take payment in lieu of vacation days? I like taking time off. Had they announced the policy change before the end of the fiscal year, I would have gone on another trip to avoid a cashout. Do I have any option?
If it matters, I was a resident of California until I moved to Colorado on 11/1, still with the same company, which is incorporated in DE and headquartered in MO.
For many years, the large company I work for allowed us unlimited carry-over of unused vacation days. Two years ago they changed the policy: they record your balance at the end of September; then, the following September (end of fiscal year) you are allowed to have up to the number of accrued vacation days as previously recorded; anything over that is cashed out - paid to you at your regular daily rate. The intention is to gradually lower the carried-over days. Fair enough.
This year I used up 28 days and at the end of September had a balance of 35 days, well under the balance recorded last year, so I should have been fine (not getting anything cashed out). Today, I got an email that read: the vacation policy has been changed; the company has decided that anyone who had a balance at the end of September between 30.1 and 39.9 days, will be lowered to 30 days; 5 vacation days will be cashed out and paid to me in the November 30th paycheck."
Can a company legally apply such a policy change retroactively, and force me to take payment in lieu of vacation days? I like taking time off. Had they announced the policy change before the end of the fiscal year, I would have gone on another trip to avoid a cashout. Do I have any option?
If it matters, I was a resident of California until I moved to Colorado on 11/1, still with the same company, which is incorporated in DE and headquartered in MO.
