Not really true at IBM- I mean of course you got to take vacation. Also, you couldn't carry over vacation time, so often half the office was out last two or three weeks of December to use it up.

Also on vacation time: you can negotiate for more. I knew someone who negotiated for a 4 day work-week, but that was a special case (along the lines of "I don't need to work anymore, so if you really want me it's going to be for 4 days a week only").