Autos

Volvo is set to give all employees 24 weeks of paid parental leave

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Swedish automaker Volvo Cars is increasing paid parental leave for employees globally to 24 weeks regardless of gender, the company announced Tuesday.

Employees — both hourly and salaried — who have been with the automaker for at least one year are eligible for the new “Family Bond” program, the company said.

It covers those who become parents through birth, adoption, permanent foster care and surrogates. Non-birth parents in same-sex couples are eligible as well. The program takes effect Thursday, Volvo said.

Employees will be paid 80% of their base pay by default under the program. They can use the time off from work during the first three…



Source cnbc.com

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