"Leadership at huge accounting and communication technology companies likely made the decisions because the labor market has stagnated, meaning that people looking for jobs do not have the same leverage when considering a job opening."
"While cutting the benefit might help companies save money in the short term, some consultants argue that the moves will ultimately hurt companies because it will make workers less productive, among other negative consequences."
"The United States is the only developed country that does not guarantee paid parental leave. The remaining 37 countries within the Organisation for Economic Co-operation and Development offer at least some paid maternity leave."
Deloitte and Zoom's recent cuts to paid parental leave could reflect a larger trend in corporate America towards reduced employee benefits. Labor market experts note that American workers already have fewer benefits compared to their global counterparts. The stagnation in the labor market has diminished job seekers' leverage, prompting companies to cut costs. However, experts warn that these reductions may lead to decreased worker productivity and morale. The US remains the only developed nation without guaranteed paid parental leave, contrasting with other OECD countries that provide substantial maternity leave benefits.
Read at www.theguardian.com
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