Merrill slashes sick days

Merrill Lynch & Co. has trimmed employees’ sick days from 40 to 10, according to an internal memo. The new attendance policy, which was issued May 4, is, in part, meant to discourage workers from using their sick time off to ditch work, especially on Fridays during the summer, according to the Los Angeles Times, who cited unnamed company officials. Those who take off four sick days will have a chat with managers to discuss their performance and the consequences of taking more time off, while those with more than seven days may get a written warning that they’ll be terminated unless they improve their attendance, the L.A. Times said. Responding to the story, Merrill spokeswoman Selena Morris said that the company pays for up to three weeks of vacation, four personal days and six weeks of paid illness leave—provided an employee has a doctor’s note or proof of having been ill. The new standards apply to all, added Ms. Morris, including high-ranking executives. “It’s a minor adjustment to our attendance guidelines, which brings us in line with our competitors.” “We’re a very generous company,” Ms. Morris said.