Pros
Hard to think positively through the continuous rain of blows to my wallet.
Cons
Last January I had 25 days of vacation to use when I chose. This year I have zero. If my supervisor feels like rewarding me -and provided the company gives him a budget to pay me - I may be able to get days off. If I need time off for job interviews (and I plan to!), I have none available. Probably I'll get some vacation this year. But since vacation pay is now discretionary spending - the first thing to be cut when money is short, as it ALWAYS is in this company - I expect to be "rewarded" less every year, instead of guaranteed more as in our old earned vacation plan. It's really REALLY hard to see this change as anything other than (yet another) huge benefit cut. Essentially the hourly earnings HW owes to me just dropped 10%.