Bloomberg's employees around the world (including in Malaysia, Singapore, and Hong Kong) will now enjoy 26 weeks of fully-paid parental leave.
As announced to employees by founder Michael R. Bloomberg on 15 May, the company has expanded its parental leave policy from 18 weeks of fully-paid leave to 26 weeks effective immediately.
In a media statement, the company noted the policy is gender neutral and establishes a new global minimum standard for primary caregivers.
The new policy grants primary caregivers – male or female – 24 weeks of fully paid parental leave, plus 10 transition days (one day off per week for 10 consecutive weeks) immediately following an employee's return to work. This serves as a new global minimum standard following the birth, adoption or foster placement of a child.
Secondary caregivers will continue to receive four weeks of fully-paid leave.
In a global memo to employees, the global business and financial information and news organisation wrote: "With this policy change, we are furthering our commitment to making Bloomberg a great place to work.
"We recognise that every family is different, so our policies should reflect the needs of each and every colleague — across the world and regardless of gender."
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