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I think it is good. Adds flexibility to when to take time off plus ensures opertional coverage.

Good timing to reheat left over Turkey!

We have had the priv days added into extra annual leave (entitlement has gone up from 30 to 31.5 days).

One company company I worked for years ago did away with Christmas bonuses and time off for a Christmas lunch. The bad feeling in the office was significant. People stopped going above and beyond what was asked of them and the company's profits went way down. Still the owner could not complain...