Citigroup employees in the US will now receive expanded paid parental leave benefits. They will now be entitled to 16 weeks of paternity leave, along with two weeks of caregiver leave for employees in the US and Puerto Rico. This initiative is designed to help parents bond with their newborns and spend quality time with them, according to Citigroup’s Chief Human Resources Officer, Sara Wechter. Birth parents will also have an additional eight weeks off to recover from childbirth. The parental leave policy is expected to be expanded to Citigroup employees in other locations in the near future. In the UK, Citigroup employees already receive 26 weeks of paid leave.
In a similar move, in July 2023, Barclays updated its parental leave policy in the US to provide a minimum of 16 weeks of leave for all new parents. The policy eliminates the distinction between primary and non-primary caregivers, offering all employees the same 16 weeks of paid leave. This policy covers childbirth, adoptions, and foster care arrangements for 16 weeks. Additionally, the company introduced a separate recovery leave for birth mothers, allowing them to take an extra six to eight weeks off for a total of 22 to 24 weeks.
JPMorgan Chase and Bank of America already provide a 16-week parental leave period for all new parents, while Goldman Sachs Group grants mothers and fathers a 20-week leave. Similarly, Morgan Stanley ensures that new parents receive a minimum of 16 weeks off.
