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Volvo Cars gives all employees six-month paid parental leave

The policy is based on Sweden's national parental leave policy, one of the most generous in the world with 480 days to be shared by both parents at 80 percent of their salary up to a ceiling of around $4,500 (3,800 euros) a month.

March 30, 2021 / 11:50 AM IST
(Image: Reuters)

(Image: Reuters)

Swedish automaker Volvo Cars said Tuesday it would give its 40,000 employees worldwide the right to six-month paid parental leave in a bid to increase gender equality and attract talent.

As of April 1, employees who have worked for the carmaker for at least one year will be entitled to the benefit at 80 percent of their salary.

Employees can take those weeks whenever they like during the first three years after the birth of their child.

The policy is based on Sweden's national parental leave policy, one of the most generous in the world with 480 days to be shared by both parents at 80 percent of their salary up to a ceiling of around $4,500 (3,800 euros) a month.