Effect on Vacation Time when a Company is Sold
My question involves labor and employment law for the state of: Florida
My company is being purchased and I have been told that we will only be able to retain 120 hours of vacation, i currently have 176+. They state I will lose the extra hours and are not approving new vacation requests (which I understand they can d0). My question is can they just wipe the extra 56 hours of paid vacation time off the books with out paying me?
Re: Vacation Time Affect when Company Being Bought
In your state, yes, they can.
Neither Federal nor Florida law considers vacation time to be earned wages, and neither prohibits use it or lose it policies. Since it is not considered a protected benefit, the employer may legally wipe it out.