Deloitte just cut its paid parental leave in half. A lot of CFOs are about to learn that this was the most expensive "savings" decision they ever made.
The US is already the only developed country without federal paid parental leave. 1/4 of American women are back at work within 2 weeks of giving birth. 1/3 leave the workforce entirely when they don't have the time and support they need, and many stay out for 5 years or more.
That's the baseline we're starting from. And now two of the country's most prominent employers are making it worse.
Deloitte is taking their paid parental leave program from 16 weeks down to 8 for their internal support roles. They're getting rid of a $50,000 reimbursement that covered adoption, surrogacy, and IVF. They're cutting PTO by up to 10 days and ending pension accruals.
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