Day: April 1, 2021

Volvo offers generous Swedish-style parental leave to all its 40,000 global workers

Volvo has announced a 24-week, gender-neutral parental leave for all its 41,500 global workers, taking inspiration from a similar national legislation in Sweden, its home market.

The carmaker announced on Tuesday that the new parental leave policy, irrespective of gender, will be applicable from 1 April in all its plants and offices across the world. The ‘Family Bond’ policy will ensure “24 weeks of leave at 80 per cent of their base pay by default” to employees with at least one year’s service. The leave can be availed within the three first years of parenthood.

“We want to create a culture that supports equal parenting for all genders. When parents are supported to balance the demands of work and family, it helps to close the gender gap and allows everyone to excel in their careers,” Volvo’s chief executive officer Hakan Samuelsson said.

He said Volvo has always been a family-oriented

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Bathing & Physique Care

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Florida KidCare

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2020 worst year on record for UK economy despite ending with stronger bounceback


he UK economy suffered a steeper contraction during the first coronavirus lockdown but bounced back more strongly than previously thought at the end of 2020, according to official figures.

The Office for National Statistics (ONS) said gross domestic product (GDP) – a measure of the size of the economy – shrank by even more than first forecast between April and June last year – plummeting by 19.5% against the 19% initial estimate.

However, in a raft of revisions to previous figures, the ONS said the economy rebounded by 16.9% and 1.3% in the third and fourth quarters of 2020 respectively.

This marked steep increases on the 16.1% and 1% previous estimates.

The widespread revisions left GDP plummeting by 9.8% overall in 2020, against the 9.9% first pencilled in, but still the worst annual performance for more than 300 years.

Jonathan Athow, deputy national statistician at the ONS,

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