I mean I can understand why an accountant would be happy his one metric is down when the company implements unlimited PTO, or maybe the stock market responds to the (slightly) reduced liability levels.

But surely it can't be a significant amount of make sense to implement this kind of police only for this unless the company has insane turnover (so "unpaid" PTO is not paid out as cash). The reduced amount of PTO staff takes must be the main reason.

Unpaid PTO is (assuming that the employee _doesn't_ leave the company) essentially debt in the company books with 0% interest rate.