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Why fintech company Bolt eliminated its unlimited time off policy

Love it or hate it, everyone in HR has an opinion on unlimited paid time off.

Just 7% of US companies offer unlimited PTO, the Wall Street Journal reported. And 30% of private employers that don’t, instead offer their employees an average of 10–14 PTO days a year after one year on the job, according to 2024 data from the Bureau of Labor Statistics. Employees with unlimited PTO take an average of 16 days off annually, a 2024 SHRM survey found, while those afforded a specific number of days take an average of 14.

Some HR pros have said that unlimited PTO policies can be vague, which can lead to over and underutilization of the benefit. The latter can lead to higher rates of employee burnout………………

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