Mar 31, 2021
Chinese-owned Volvo takes on Sweden's family values
Swedish carmaker Volvo will offer a generous paid parental leave scheme to its 40,000 employees globally. Parental leave benefit is often generous at Swedish companies, and now Volvo's scheme will apply to all of its employees, including China and the US. Under the plan, staff will be entitled to 24 weeks of paid parental leave while receiving 80% of their base pay during the leave period. The global policy applies to either parent and the leave can be taken any time within the first three years of parenthood. The leave policy is inspired by national legislation in Volvo's home market of Sweden, which is one of only a few countries that already offers leave by law for either parent. "Some countries do not offer any paid leave to new parents, or exclude certain groups of parents - the latter is particularly true for fathers," Volvo said in a statement.
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